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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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- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
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