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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, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
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