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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, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
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