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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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- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
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