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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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Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
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- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
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