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