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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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Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
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- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
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