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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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Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
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- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
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