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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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Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
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- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
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