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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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Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
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- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
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