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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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Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
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