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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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Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
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