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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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Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
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