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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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
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