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