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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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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
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