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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 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 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
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