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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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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
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