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