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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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Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
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