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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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Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
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