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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, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
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- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
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