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Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
 As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full of precarious scenarios and shrouded by excess uncertainty, say Allied shipping in its latest weekly report.
According to Allied's research team, over the past year it has become ever increasingly difficult to be able to determine where the new equilibrium in the market will form. Shipping is entering a new era of ever challenging conditions, whether it be by new regulations and the shifting trends they can foretell on the supply side of the market, or it be by the fast paced political and economic shifts which easily cause sharp shifts on the demand side. Of course it is of note to say that across all the main sectors of bulk shipping we have seen a level of stability for when it comes to their respective fleet growth and the level of newbuilding ordering taking place. This has for some time helped ease back concern amongst most in the industry and has even allowed in some case for a strong sense of optimism to be regained. Given that on average we are seeing an orderbook to fleet ratio of just fewer than 9% across the dry bulk sector and just under 10% in the tanker sector, it seems as though the equilibrium that seems to have been struck of late could well be here to stay. This argument goes even further once you take note that in most cases considerably less than half of those orders are for the coming year, meaning that we don’t anticipate any extravagant shift on the supply side of the market within 2019 said Allied.
The report further noted that, yet there may well be factors coming into play that could disturb this balance. The excessive levels of new regulations coming into force in the relative near-term could pose a risk and push an increasing number of ship owners onto the new-building front (given the ease by which a vessel could be set to comply in comparison to an already trading vessel which needs to be retrofitted). In most cases these new orders would not do much to disrupt the fleet balance in 2019, but would in effect lead to a disruption in asset values of already trading ships and could in essence be the cause for excessive market volatility before these new orders are even delivered.
Realistically however the main concern over the past 12 months has shifted towards the ever-increasing troubles seen on the demand side of things. Over the past couple of years we have seen ever more political turmoil unfold and “war lines” being drawn on international trade. This has intensified considerably over the past 8 months and does not look to be dissipating any time soon (despite the recent “truce” agreed between the US and China). What turns this all into a highly precarious environment for international shipping is that this trade tension is in its biggest part between the world’s two largest economies, while at the same time it has been their 20 year old trading relationship that has in its most part helped bring about some of the most affluent market conditions the shipping industry has ever seen. The part that makes all this shrouded in excess uncertainty is the fact that the decisions are not being made or executed with any business sense or strategy but in their most part are a political charades which come and go in the most unpredictable way.
Taking all these and more into account, Allied says we would like to close the year wishing to all our readers a happy holiday season and that the New Year finds them in good health and fortune and hopefully within a market shifting back towards clarity and sense rather than further instability and random shocks.
Merry Christmas and a Happy New Year.
- Allied shipping -
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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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- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
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