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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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
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