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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, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
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