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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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Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
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