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