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