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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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Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Planning Commission, India
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