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Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
 The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GDP. The degree to which different economies will be affected varies, with some countries looking at damages only in few industries. In that spirit, since the Greek economy is not very reliant to the Chinese one, we can assume that the sector that will suffer most will be tourism, taking into consideration the upcoming holiday cancellation domino effect from Asia based citizens.
The Chinese government announced that aggressive measures will come into effect in an effort to limit the impact of a major shock from the spread of the coronavirus outbreak to the global economy. Part of these measures will include a brave injection of 1.2 trillion yuan (EUR 156 billion) in the country’s financial system as well as tariff exemptions on US farm, medical and energy products. In an effort to assess the extent that the economic impact the virus outbreak will have, Goldman Sachs analysts estimated that only a 0.1%-0.2% of the global economy will be affected, with this cost climbing up to 0.3% of the global GDP in the most pessimistic scenario.
The tanker market was the last one feeling the impact of the virus outbreak, with demand and rates being affected fairly recently compared to other sectors, however, if the spread continues for a long time, then Chinese demand for oil may experience contraction and push rates to even lower levels. On the dirty tanker market, we have seen a fall over the last weeks due to the lifting of US sanctions on Chinese-interest ships, with almost 40 VLCC tankers having returned to the market, significantly increasing the availability of tonnage as a result. In addition, as the countries of the West gradually enter the spring season, a brake on demand for tanker vessels is also on the cards due to seasonality.
On other news that could have a negative impact in the progress of the industry, the Manila Times newspaper pointed out the systematic failure of Philippine's Naval Schools and Academies to meet the international standards of training for a variety of reasons, including the poor naval training system, especially for low-wage crews.
According to the Philippine Maritime Industry Authority (Marina), 61 of the country's 91 naval schools should immediately cease their operations as there is no compliance with the requirements of the STCW (International Maritime Organization Convention on Standards of Training Certification and Watchkeeping for Seafarers). A development like that, which concerns the two-thirds of naval schools in the country, will seriously affect the capacity to train seafarers and the international credibility of all graduates from the Philippine naval schools.
By Zisis Stylianos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
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- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
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