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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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Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
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