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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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Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- The University of Queensland
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Australian Coal Association
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
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