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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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Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
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