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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 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
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