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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, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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- Planning Commission, India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
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