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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, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
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