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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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Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
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