We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
 It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fail to learn from your mistakes. So much so in fact that, like a scientist studying the formation of the universe, it should become possible to predict the past too.
Shipping knows exactly how this feels, having ignored the simplest of supply/demand equations and instead put its faith in fanciful predictions that the world – and therefore business – had changed forever.
The trouble is that the more things change, the more they also stay the same. The belief that an industry could break completely free of the cycles which had marked its history for hundreds of years was in fact a departure from reality, the consequences of which we continue to live with.
At least we know now, in case we did not before, that the world will continue to be a difficult place in which to trade, and one need only attend one of the regular shipping industry trade shows to experience that feeling first hand.
Even in Asia, grounded more in trade and consumption rather than the optimism of capital markets, there is an expectation that the world which emerges from the industry’s longest downturn in a generation will be different to the one that went into it.
Classification Society Lloyd’s Register used the recent Singapore Maritime Week to launch its own piece of long range research, laying down competing scenarios of what the industry might have to be grappling with by 2030.
A thorough piece of work put together by LR, QinetiQ and Strathclyde University, it nonetheless can only really succeed in telling the reader what they might already suspect, particularly with regard to the economic/political backdrop.
It seems highly unlikely, for example, that the world will adopt anything but an aggressive posture to protection and preference, not simply for the length of the recession but subsequently, as the emerging nations that (again, we know) will come to dominate the industry flex their muscles.
The shipping industry gives thanks en masse for China’s rise but it must surely recognise that the trading partner with which it will have to deal is no US, no Europe, not even a Russia.
Shipping has traditionally enjoyed freedom of capital, movement of people, goods and services, all commodities it cannot be certain will be so readily available in future. The evidence of the tension emerging in Singapore last week over the need to balance immigration against the requirement to import skills to cement the city-state’s future growth is one clear example and far from being the only one.
Shipping also likes to be left alone and to do its own thing, rather in the same way as entrepreneurs enjoy conditions of privacy to found and grow businesses – unfettered by regulation and competitive constraints, served by relatively free-flowing debt financing.
Again, little to no hope there. Shipping’s dalliance with unreality has left it, if not high and dry, then in a new room with different lenders with very different ideas compared to its former ship finance partners.
Shipping is also highly regulated, but in some areas, less highly regulated than other comparable industries. The trouble is that the industry has done a bad job too often of arguing its case that the positives outweigh the negatives.
There are a number of reasons for that, not least that its main regulator has to juggle the demands of being a technical body on the one hand with being a political one on the other. The tidal wave of opprobrium heaped upon regulators during CMA was a little less obvious during Maritime Week but it is clear the costs of compliance, the need to demonstrate transparency and the requirement to operate under greater scrutiny will all be firm future requirements.
But can shipping change by enough to meet these needs? Of course it should – by practising restraint, by being more commercially adept, by making friends with regulators earlier in the rulemaking process, by recognising that market share without profit margin is a pointless metric and that it something looks too good to be true, it probably is.
To carve out a survival strategy that goes beyond merely putting off the inevitable for another seven years, shipping certainly has to get smarter, and not just in terms of the above commercial issues, however pressing they appear.
Shipping needs to cure itself of the affliction that it has suffered under for at least the last 20 years – you take care of providing sufficient growth, we’ll take care of the rest. The industry is being asked tough questions about its place in the world, just at the time when it has demonstrated the definition of commercial irresponsibility and lack of regulatory engagement. So, back to the future. There is a fine living to be made predicting even short term scenarios, but better cuttings and weblinks to be garnered by mopping up in the aftermath. Most of those doing the latter focus on how we failed to spot the emergence of various technologies and services in time to either make our fortunes or to adopt them to our competitive advantage, preferring to dismiss them as the short term fads driven by people who just want to sell us things before our current things have worn out.
But watch this space – there are two factors that will be decisive in marking out corporates for survival and perhaps the wider industry for adaptive evolution: attitudes to people and the use of technology. The entry into force of the MLC might not by itself guarantee better working conditions for all seafarers but it demonstrates a much clearer focus by regulators that owners will be unable to ignore and should turn to their advantage.
And as for technology? Well, without new approaches to designing, building and operating ships, incorporating not just some tried and trusted techniques but new – and as yet unproven – technologies, there is little hope of meeting future regulatory hurdles and energy efficiency requirements.
I said that predicting the past was possible and here is the history lesson. Owners will adapt and survive. Some will leave the stage and some big names disappear but long before 2030, we will see a new industry emerge. In fact this is not a prediction. It will have to happen.
Source: BIMCO / Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
|
|
|
Showing 776 to 780 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- The University of Queensland
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
|
| |
| |
|
