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