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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, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
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- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
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