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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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Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- White Energy Company Limited
- The University of Queensland
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Planning Commission, India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
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