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