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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Australian Coal Association
- Planning Commission, India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
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