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