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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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Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
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