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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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Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
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