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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, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Central Electricity Authority - India
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