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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, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
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