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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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- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
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