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