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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, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 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 ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
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