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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, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
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- Petron Corporation, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
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