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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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Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
Friday, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
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