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