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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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Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
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