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