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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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Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
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- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- PTC India Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- The University of Queensland
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
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