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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
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