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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
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