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Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
 There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest developments on a global scale indicate that most probably we are among the less fortunate. Another saying though suggests that “there is always something good in every bad”. Surely, no-one doubts that the new virus may cause thousands of deaths. It also goes without saying that a prolonged shutdown of every developed/developing country of the world will have severe economic and social consequences. This is now clear to everyone. We are constantly being bombarded with bad news by way of noisy words such as “markets free fall”, “huge sell off”, “bankruptcy”, “worst ever recession”, “collapse” etc. This is so stressful.
However, there is also some good news. Apart from the hundreds of scientists and laboratories currently looking for ways to fight the virus, there are unprecedented, huge fiscal and monetary stimulus packages offered by governments and central banks across the world and almost in a coordinated way. They are ready to do ‘’whatever it takes’’ so that the global economy gets back on its feet. Rate cuts, loan guarantees, tax cuts, wage subsidies, liquidity schemes and asset purchase programs are just a few of the tools that governments and central banks have already decided to use so that they don’t allow economies to derail.
So, apart from the daily 1-2 hours’ bad news “update”, what should the news talk about? Where is the “good” in all this bad? It is hiding in the day after. This is the day after the lockdown measures are over; the day that the global economic growth will start gathering pace. Regardless of what its shape will be – ‘’V’’, ‘’U’’, ‘’L’’ or ‘’W’’ – recovery will eventually come, as it has done in all the previous ‘’catastrophic’’ times in human history. However, it will still be the end of the world as we know it, both in micro and macro-economic level.
Digitalization will grow even faster. People will change the way they live and work. New and more productive ways of working will be adopted, through smart working, with less physical (i.e. less commuting and traveling) and much more efficient meetings. E-commerce, tele-medicine and on-line education will also flourish, all allowing more free personal time for everyone.
Supply chains - logistics. Most, if not all, large manufacturing companies will re-consider their current just-in-time inventory management and their reliance on global networks of suppliers. Raw material stocks will be increased as additional reserve cushions in order to prevent exhausted inventory and production disruption due to a global shutdown as the one we are currently facing. Logistics’ hubs will also be re-considered so that they are better (geographically) positioned.
In view of all the above, most likely debt providers will follow suit. Further to the financial standing of each company, its environmental, social and corporate governance, I would be most surprised if the financiers did not add in their checklists each company’s emergency and crisis management plans. In the meantime, and until we reach the ‘’day after’’, let’s all stay at home, stay safe and buy some more time for the people who work either to clinically fight the virus, or provide the means so that we all suffer as less casualties of any kind, as possible.
By George Laios
Deputy CEO, Intermodal Group
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, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
Tuesday, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
The index, released by Chi ...
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- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
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