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Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling trade-to-GDP ratio.
The falling ratio can be explained by slowing globalistation as well as increasing protectionist measures being implemented around the world, spear headed by the US. The raised barriers to trade are here to stay as we enter a new decade, with the shipping industry stuck with the consequences.
The trade war is the clearest example of these extra barriers to trade, and although a phase 1 deal was reached in December, the most difficult issues have yet to be addressed, and BIMCO therefore expects the trade war to continue to plague shipping between the US and China in 2020. Unfortunately, they are not the only countries engaging in tariff wars. The EU also faces additional tariffs from the US and we see trade tensions between Japan and South Korea.
The effects of the worsening of the fundamental shipping market balances this year will be felt in 2020, as the balance is not reset to zero when the calendar year changes. BIMCO continues to warn that the worsening balance between the supply of ships and the demand will be detrimental to shipowners’ ability to pass on the additional costs associated with compliance of the new IMO 2020 Sulphur Cap. It will depend on the freight rates to which extent the additional costs are covered, which in turn depend on the market conditions; the better the market, the easier it is to pass costs on.
Dry Bulk shipping
The biggest concern for Capesize shipping in 2020 is the trend in China, where iron ore imports may fall for the third year in a row. The structural change in China’s steel production, towards using scrap steel in favour of imported iron ore, means that Chinese demand for iron ore can no longer be counted on to increase demand for Capesize ships, with imports having peaked in 2017.
For the dry bulk shipping industry there is more bad news from China. Its soya bean imports have become an important part of the trade war and how it is viewed, but even aside from the trade war, the outlook for soya bean trades into China are weak. Its demand will be considerably lower due to the largest ever culling of pigs which consume most of China’s soya bean imports. It will take years for the Chinese pig population to return to the same size as before the cull, and even then, lowering the soya content in pig’s feed will have lasting consequences on these trades.
The high fleet growth in 2019 (4.1%) will play out into 2020 when the fleet is also expected to grow by more than demand. The cumulative impact of these growth rates mean that the gap between demand for shipping and the supply of ships will continue to grow, putting pressure on freight rates throughout the year.
Tanker Shipping
Crude oil tankers have certainly been in the headlines in 2019 due to geopolitical developments and as freight rates reached record levels as a result, but going into 2020, the fundamentals remain unchanged. This means that after the seasonal boost fades away in the first quarter, the high freight rates in the VLCC-market are likely to disappear, as the market fundamentals have in fact worsened in 2019, with an eight year high fleet growth of 6.3%.
Fleet growth has also been high in the oil product tanker market, with many owners aiming to benefit from the IMO 2020 Sulphur Cap and the boost that BIMCO expects it will bring to the oil product tanker shipping industry. The boost are on the back of the new trades for the transport of compliant bunker fuels from the refineries to the bunkering ports.
While this boost will improve tanker earnings in the first 3-6 months of 2020, once the short term boost will fade away, the challenge facing the market is that the new ships will still be around , and will instead be fighting for cargoes in an already over-supplied market.
One of the major developments expected in 2020 is for the US to become a net exporter of crude oil on an annual basis. The increasing proportion of global crude oil exports coming from the US is good news for the tanker industry as this involves longer sailing distances to the Far East, where the major importers are, compared to exports from the Middle East.
Source: Peter Sand, Chief Shipping Analyst, BIMCO
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Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
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Showing 16 to 20 news of total 6846 |
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- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- PTC India Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- The University of Queensland
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
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