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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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Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Planning Commission, India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
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