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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, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
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- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
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