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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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Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
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- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- White Energy Company Limited
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
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