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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, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Chamber of Mines of South Africa
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
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