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