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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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Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
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- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
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