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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
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