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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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
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