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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, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
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- The University of Queensland
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
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