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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, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Planning Commission, India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Australian Coal Association
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
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