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