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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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Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
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