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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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Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- PTC India Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- The University of Queensland
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
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