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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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Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
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- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Central Electricity Authority - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
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