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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, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
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