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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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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV 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 coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- White Energy Company Limited
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- PTC India Limited - India
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