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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, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
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