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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Minerals Council of Australia
- The University of Queensland
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
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