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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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Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
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