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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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- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Planning Commission, India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- The University of Queensland
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
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