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