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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, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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Showing 1461 to 1465 news of total 6871 |
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- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- PTC India Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
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