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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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- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- The University of Queensland
- Planning Commission, India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
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