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