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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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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
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