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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
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