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Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
 If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentiment changes in the blink of an eye. Regulations, tariffs, sanctions, you name it, all play their part. For some, volatility provides opportunities and possibilities to speculate and invest. For others volatility only prolongs the uncertainty and adds to the fatigue. Either way this is the current reality and there are no signs that things will change and become more predictable.
It is widely accepted that shorter cycles are here to stay. Orderbooks and scraping do play a role but sentiment and trade agreements are in the driver's seat. In an industry that is 100% capital intensive to begin with, now more than ever the need for quick reflexes is imperative.
Shorter cycles that span anywhere from 6 to 18 months mean that the opportunity to make money for shipowners is heavily dependent on the price they paid to acquire or build the asset. With that being said the term “asset play” gains a different meaning. The ability to be able to sell or buy an asset when opportunity arises will be very important to the survival let alone the prosperity of a shipping company. Asset play will become more complex and more structured. An early sign of this is last year's import regulations that China implemented that very quickly created a sub-market segregating Tier I and Tier II ships within each size segment.
Don't get me wrong, the way a company operates or charters their assets will still always be the main source of income and will stay at the core of the business model separating the good from the very successful, but the ability to let go of an asset or the capacity to buy an asset due to an opportunity, will give a significant edge to anyone that can do it.
In a market environment that financing remains scarce, expensive and for many still not easily accessible all of the above is easier said than done. But you can’t or at least you should not ignore where things are heading.
More than ever before, this industry is being led by people that know shipping or at least are willing to have a long presence in shipping. The outlanders that entered - or invaded for some - the previous years have either switched focus or have taken the back seat after years of failing to predict the market, realizing that liquidity is not easily achieved when all things go south.
All in all, as long as newbuilding ordering is rational and mostly driven by need of new tonnage and reasonable speculation, over-supply will stay in check, adjust and eventually cease to exist and in my humble opinion shorter cycles will play a role to that. For a shipping company this will make the need for increased SnP activity vital. We are moving towards an industry that will be even faster paced going forward, with new possibilities to be explored and new boundaries, technological and operational to be pushed. With the BDI currently at very low levels it is only logical that we cannot see the forest for the trees, but the forest is there and it is full of opportunities.
By Timos Papadimitriou
SnP Broker
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, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
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