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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, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
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- Bhatia International Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
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