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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, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
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- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- PTC India Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
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