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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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Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
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- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
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