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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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Wednesday, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
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