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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, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Planning Commission, India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
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