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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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Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- Tamil Nadu electricity Board
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- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
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- Mercator Lines Limited - India
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- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
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- The State Trading Corporation of India Ltd
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- Global Coal Blending Company Limited - Australia
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- Merrill Lynch Commodities Europe
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- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
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- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
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- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- White Energy Company Limited
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
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