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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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Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
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- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
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