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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
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