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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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Wednesday, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
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