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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
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