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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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Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
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- Mercator Lines Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
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