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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
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