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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, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- The University of Queensland
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
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