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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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Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
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