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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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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
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