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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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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Planning Commission, India
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