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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, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
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- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- The University of Queensland
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
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