We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
 After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the Costa Concordia, further problems in the euro zone, pirate attacks and increased sanctions," according to Willis Global Marine, part of Willis Group Holdings.The latest Willis Marine Market Review reveals that the” hull market is in a state of flux following the Costa Concordia disaster in January. Some underwriters in the London insurance market, which will bear the majority of the estimated $500 million hull claim, are adamantly refusing premium reductions or even flat renewals. However, unaffected underwriters in the Far East and Scandinavia are more open to negotiations.
A word from our sponsor:
Combat fraud and improve pricing accuracy. Significant premium is paid in fraudulent claims or lost to rate evasion. Prevent this by identifying potentially deceptive claims early.
TransUnion Risk Verification Platform uses comprehensive data for actionable results at point-of-quote. Reduce fraud. Improve pricing accuracy.
“Marine liability underwriters meanwhile are hoping the disaster drives through a general hardening of rates, with many seeking 5 percent increases going forward. ”
However, as far as cargo insurance is concerned, the report notes that “buyers continue to enjoy the benefits of a soft market, achieving reductions in both premium and deductibles, as well as increases in limits, at little or no additional cost. Despite ever-dwindling returns to insurers, competition for business remains fierce with a flurry of new entrants creating excess capacity.”
Piracy remains a major concern, as cargo underwriters continue to be affected by what Willis said “continues to blight the shipping industry with no clear resolution in sight.” This is despite the fact that “security measures taken by ship-owners are increasingly effective with less than 20 percent of attacks successful in 2011.” However, the report notes, “this has only served to increase the demands and expectations of those attacks that do occur with total ransoms increasing 77 percent from 2010.”
Alistair Rivers, CEO of Willis Global Marine, commented: “For many marine insurers the year began badly with the loss of the Costa Concordia cruise liner. It was a timely reminder that 100 years on from the loss of the Titanic, disasters on this scale are still possible despite all the industrial and technological advancements. But while this loss may have stiffened the hull market, the long term impact is questionable. The P&I and Liability aspects of this loss will be of far greater significance to insurers as matters evolve throughout the year.
“However, a truly hard market is a mirage as long as capital providers are prepared to tolerate marginal returns from their hull and machinery book. These are difficult times for the maritime industry: world shipping is in recession; the economic turmoil continues to dampen demand; pirates are seizing property and crew; and increased sanctions demand further resources and attention. But maritime trade has seen and overcome similar challenges in the past and the entrepreneurial spirit that drives the industry remains intact.”
The Marine Review describes this years’ February P&I renewals as “disproportionately confrontational and protracted as ship-owners operating in one of the worst economic environments for a generation contested even inflationary increases from Clubs. On average, rate increases of 4 percent were achieved.
“Excess capacity in the Asian marine insurance market is putting pressure on rates as local and foreign insurers compete for market share. Asia is now home to around half of the world’s merchant fleet, 14 of the top 20 ports and three of the largest ship building nations.
“In the commodity insurance market, underwriters are responding to commodity price volatility by tightening clauses and scrutinizing policy wordings with prices edging up for technically unsound risks.
“Rates continue to slide in the Super Yacht insurance market due to a combination of modest loss ratios, underperformance in the hull market and increased capacity. The economic problems in the euro zone have also caused some Super Yacht owners, particularly in the US, to scrutinize the stability of European insurance markets.”
Source: Willis Global Marine / Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
|
|
|
Showing 4761 to 4765 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
|
| |
| |
|
