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