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