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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, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
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- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
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