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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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
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