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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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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Bangladesh Power Developement Board
- Planning Commission, India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Parliament of New Zealand
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
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