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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, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
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