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