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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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Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
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- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- The University of Queensland
- Eastern Coal Council - USA
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
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