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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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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
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