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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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Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
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