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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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Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
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- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
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