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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 see and listen to world class experts from Silicon Valley talking about what the future holds for us. During these two full days we got to know about the new technologies and latest developments in sectors like energy, medicine, industry, space travels and many more. However, the two things that really impressed me were the (exponential) speed of change in all the sectors and the disruption that is happening or is about to happen again in all sectors. The changes are happening in such a speed that even well-known and recognised institutions keep missing their forecasts or, I would dare say, the big picture. Disruption happens, but it's coming from the outside of each sector. And this is where huge companies have failed and finally gone bust. They did not see it coming because it did not come from within their sector.
One of the many stories that we were told during the conference was the one told by David Roberts, who is regarded as one of the world's leading experts on disruptive innovation and exponentially advancing technology. The story was about Frederic Tudor and how he disrupted the hundreds of years of the spices trading sector by inventing … the insulated warehouse and the trade of ice!
For hundreds of years it was believed that meat was preserved using spices. However, Tudor – an American business man from Boston – had a different opinion. He started cutting large blocks of ice from the ponds of Massachusetts, stored them in insulated warehouses and then thought of exporting this ice to places that had much warmer climate. Therefore, he built an insulated ship and after many unsuccessful attempts and after having gone bankrupt a couple of times, he managed to get the ice out of the ponds of New England and carry it around the world going as far as India. It did not take more than 20-30 years for the spice industry to collapse. Did anyone see it coming? No. Did any of the old spice trade companies moved into the ice trade? No. So, one business man from Boston disrupted a long standing industry.
The story doesn’t end here. Tudor’s business was also disrupted by the invention of the ice-maker. Not only there was no need to cut the ice out of lakes, but also the ice trade itself stopped. People ultimately ended with a nice piece of furniture (the ice boxes) on top of which they put a small block of ice (delivered to their door) and preserved their food. And of course, the ice box industry got disrupted by the fridge business. Again, no-one of the ice box makers followed the trend.
The above story was really enlightening as none of the above saw the disruption coming (even Tudor himself). And when they actually saw it, they did nothing but resist. It is true that in hindsight, we may consider it easy to predict, but what about our days and our world? We all see alternative sources of energy gaining ground over the ‘’traditional’’ sources and the new energy mix being rapidly changing; we all see the new technologies coming and conquering all sectors of the economy, including shipping (e.g. remote monitoring, autonomous ships). Are we going to do something about it? Will we adapt? Will we stay with our fridge, or move to the next solution?
The decision is in our hands.
By George Laios
Deputy CEO, Intermodal Group
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, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
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 ...
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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- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
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