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