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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
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