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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, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
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- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- PTC India Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
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