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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.
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Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
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- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
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