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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, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
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