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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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Thursday, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
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- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
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