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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, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- The University of Queensland
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
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