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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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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
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 ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- The University of Queensland
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
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