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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, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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Showing 1516 to 1520 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
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