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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
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Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
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Showing 4326 to 4330 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
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