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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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Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Planning Commission, India
- VISA Power Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- The University of Queensland
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
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