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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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Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Planning Commission, India
- White Energy Company Limited
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
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