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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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- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
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