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Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
 Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to see and listen to world class experts from Silicon Valley talking about what the future holds for us. During these two full days we got to know about the new technologies and latest developments in sectors like energy, medicine, industry, space travels and many more. However, the two things that really impressed me were the (exponential) speed of change in all the sectors and the disruption that is happening or is about to happen again in all sectors. The changes are happening in such a speed that even well-known and recognised institutions keep missing their forecasts or, I would dare say, the big picture. Disruption happens, but it's coming from the outside of each sector. And this is where huge companies have failed and finally gone bust. They did not see it coming because it did not come from within their sector.
One of the many stories that we were told during the conference was the one told by David Roberts, who is regarded as one of the world's leading experts on disruptive innovation and exponentially advancing technology. The story was about Frederic Tudor and how he disrupted the hundreds of years of the spices trading sector by inventing … the insulated warehouse and the trade of ice!
For hundreds of years it was believed that meat was preserved using spices. However, Tudor – an American business man from Boston – had a different opinion. He started cutting large blocks of ice from the ponds of Massachusetts, stored them in insulated warehouses and then thought of exporting this ice to places that had much warmer climate. Therefore, he built an insulated ship and after many unsuccessful attempts and after having gone bankrupt a couple of times, he managed to get the ice out of the ponds of New England and carry it around the world going as far as India. It did not take more than 20-30 years for the spice industry to collapse. Did anyone see it coming? No. Did any of the old spice trade companies moved into the ice trade? No. So, one business man from Boston disrupted a long standing industry.
The story doesn’t end here. Tudor’s business was also disrupted by the invention of the ice-maker. Not only there was no need to cut the ice out of lakes, but also the ice trade itself stopped. People ultimately ended with a nice piece of furniture (the ice boxes) on top of which they put a small block of ice (delivered to their door) and preserved their food. And of course, the ice box industry got disrupted by the fridge business. Again, no-one of the ice box makers followed the trend.
The above story was really enlightening as none of the above saw the disruption coming (even Tudor himself). And when they actually saw it, they did nothing but resist. It is true that in hindsight, we may consider it easy to predict, but what about our days and our world? We all see alternative sources of energy gaining ground over the ‘’traditional’’ sources and the new energy mix being rapidly changing; we all see the new technologies coming and conquering all sectors of the economy, including shipping (e.g. remote monitoring, autonomous ships). Are we going to do something about it? Will we adapt? Will we stay with our fridge, or move to the next solution?
The decision is in our hands.
By George Laios
Deputy CEO, Intermodal Group
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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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Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- White Energy Company Limited
- McConnell Dowell - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
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