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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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
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