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Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
 The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings says. Higher fuel costs and sulphur regulation will also put pressure on shippers. Partly offsetting an unfavourable environment are emerging signs of better capacity management by shipping companies, which is key to a sustainable balance and freight rates that support consistent profitability. We expect better fundamentals in container and dry bulk, while capacity growth will weigh on tankers. The key risk to shipping is an escalation of protectionist measures that would damage global trade and GDP growth.
Free global trade is vital for shipping development – about 80% of world trade in goods is carried by ships. More stringent fuel regulations regarding sulphur content could significantly increase operating costs and capex requirements in all shipping segments. This may negatively affect financials unless shippers pass these costs to customers. However, the product tanker market may benefit from these regulations as seaborne trade of low sulphur fuel is likely to increase as a result.
We expect healthy, albeit slower volume growth, in 2019 in container shipping. But supply and demand should be more balanced as fewer new vessels come onto the market. This should provide support to freight rates. Container shipping has become more consolidated with top five players accounting for 63% of the market in 2018 compared to only 31% in 2000, which is beginning to help with coordinated capacity deployment.
We expect freight rates in dry bulk to remain flat on average in 2019 based on balanced volumes and net fleet growth of about 3%. Any escalation of global trade conflicts, especially between the US and China, could affect cargo flows, especially for grains and minor bulk. However, we see the risk of a material reduction of overall demand and rates to be low. This is because commodity trade flows are likely to shift, rather than stop. For example, Chinese tariffs on US grain imports caused an increase in South American exports to China, while US soybeans have been directed to European and Middle Eastern markets.
Potential overcapacity weighs on the tanker sector. We forecast net tanker capacity to grow at about 3%, up from about 1.5% in 2018. The sector may face downside risks from oil demand and supply. US Energy Information Administration (EIA) forecasts global oil consumption in 2019 to rise 1.4%, down slightly from a 1.5% increase in 2018. The impact of US sanctions on Iranian crude oil exports as well as OPEC’s decision on production volumes in December meeting are likely to affect oil supply and, as a result, demand for tankers
Source: Fitch Ratings
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Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
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