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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, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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