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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
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