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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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Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Australian Coal Association
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Planning Commission, India
- Indika Energy - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
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