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Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
 The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead Transport survey from global law firm Norton Rose Fulbright. China and India are the most popular jurisdictions for investment, followed by the US, with growth through consolidation viewed as the best investment opportunity currently. While confidence among respondents from the aviation and rail industries is high, owing to lower oil prices, the availability of funding and the impact of infrastructure improvements, the shipping industry remains the least optimistic as a result of overcapacity in many subsectors of the market.
Over half (52%) of all respondents to the Norton Rose Fulbright survey agree that a global recession poses the greatest threat to their industry. However, despite political uncertainty, most agree that the transport sector can expect to enjoy further growth over the next five years. Rising passenger numbers and freight volumes are anticipated (by 73%) and an increase in the number of routes and services is expected (52%).
Investment in technology is expected to rise, according to 67%, with low carbon technology and predictive analytics expected to represent the most significant driver of change in the transport sector over the next five years.
Infrastructure remains a key theme for the sector. After consolidation, infrastructure improvements are viewed as the best investment opportunity currently (by 19%), and infrastructure investment is seen as the most helpful form of government support (by 25%). For the aviation, rail and road industries, inadequate infrastructure is seen as the greatest challenge to the operational efficiency of their industries.
Bank debt, capital markets and private equity will represent transport businesses’ main sources of funding over the next two years, and 74% of respondents expect the availability of funds to stay the same, or even increase, over the next five years.
Harry Theochari, global head of transport at Norton Rose Fulbright, comments:
“The transport sector is continuing to look to Asia Pacific for investment opportunities, encouraged by rising demand and China’s ambitious Belt and Road initiative, a modern day silk road which will improve China’s infrastructure links with the rest of the world.
“Sentiment is high in the aviation and rail industries, buoyed by the expectation of increased passenger numbers. However, shipping continues to feel the effects of overcapacity in many markets, and an increase in enforcement actions is widely predicted, although in the longer term respondents believe conditions will improve.
“Investment in infrastructure and technology, and consolidation through both M&A and joint ventures, will be key drivers for transforming the transport sector and assisting growth.
“The adoption of new technology in particular will help to address numerous issues the sector has been grappling with in recent years, such as low carbon technology to meet increasingly stringent environmental legislation, and predictive analytics to anticipate repairs and maintenance and better understand and forecast consumer behavior.
“While respondents are most fearful of the impact of a worldwide recession, they will be watching closely the implications of the UK’s referendum result. The transport sector is international and highly regulated and any UK exit from the EU would need to take into account a number of complex issues.”
Shipping
Shipping is the least optimistic industry within the transport sector, by a significant margin. Only 15% believe that current market conditions are positive, down from 33% in 2015 and 69% in 2014.
Overcapacity is the principal reason given for this lack of optimism (66%), followed, to a lesser extent, by economic uncertainty in key markets (27%).
Respondents are more optimistic when asked to consider the outlook for shipping over the next five years. Fares and freight costs will increase according to 67% and the same proportion anticipate an upturn in passenger numbers and freight volumes. The number of routes and services offered is also expected to rise, according to 35%. However, just 22% believe that funding will become more readily available and 64% think that the number of enforcement actions will increase as lenders seek to protect their positions and recover losses. Most (68%) expect fuel costs to rise.
Investment opportunities
Much of the shipping industry (58%) continues to favour Asia Pacific for investment opportunities over the next two to five years, followed, to a far lesser extent, by Europe (16%). China (17%) and India (16%) remain the most popular markets for investment.
A merger or acquisition is seen as the optimal investment opportunity (by 34%, up from 29% in 2015), while 13% favour joint ventures, alliances and pools (down from 28% in 2015).
Respondents expect consolidation to be at the centre of shipping businesses’ strategies over the next 12 months, either in the form of M&A (22%) or joint ventures (19%), while 22% expect a focus on the disposal of non-core assets. Almost three-quarters (72%) expect investment in technology to increase over the next five years, with low carbon technology expected to have the most significant impact on the industry during this period (by 33%), followed by predictive analytics (by 24%).
Regulation
Almost half (42%) believe that greater transparency in the application and enforcement of existing and proposed regulations would be the most helpful form of government support for the shipping industry, more so than fiscal incentives (32%) or investment in infrastructure (29%). Environmental regulation is seen as the regulation that has had the greatest impact on shipping over the past decade (by 49%), followed by trade and financial sanctions (by 25%).
Supply and demand imbalances are seen as the greatest challenge to the operational efficiency of the industry (by 47%), followed by a lack of qualified people (12%) and emission controls (9%). A global recession is seen as the greatest threat to the health of shipping over the next five years (by 68%). To a lesser extent, respondents are also concerned about the impact of enforcement by creditors on debt obligations (12%) and continued political and economic uncertainty in the Eurozone (8%).
Bank debt is once again expected to act as shipping’s primary source of funding over the next two years (22%), followed by shareholder support (18%) and private equity (16%).
Despite the problem of overcapacity in many sub-sectors of the industry, fuelled by new build vessels coming on to the market, 11% think that ECA funding will be the industry’s main
source of finance.
Source: Norton Rose Fulbright | Hellenic Shipping
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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
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