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