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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, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Uttam Galva Steels Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
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