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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
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