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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
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