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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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Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
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