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Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
 Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and unsustainably low freight rates is still a major challenge ten years after the massive downturn of 2008.
Mr Bennett said: “In that time shipping companies needed to show restraint when ordering new ships, to prevent stifling recovery. Yet the dark clouds of protectionism and slowing growth in key economies mean that the avoidance of overordering is now more important than ever.”
Addressing an audience of shipowners and operators at the Global Maritime Summit 2019, organised in conjunction with the Turkish Chamber of Shipping, Mr Bennett acknowledged that individual operators would legitimately make their own individual business decisions regarding new tonnage.
“Opinion is still divided on whether the rapid globalisation that has been experienced in the last thirty years may have run its course, and whether the slower rate of trade growth seen since the 2008 crisis represents some kind of permanent structural change,” he said. “Certainly in 2019, the outlook for the global economy and thus demand for maritime transport appears to be worsening.
“Ship ordering (in deadweight tonnage) fell 14% in 2018, about 17% below the average since the 2008 downturn. This suggests that many shipowners may indeed be resisting the temptation to over order and in early 2019, the worldwide shipping order book appeared to be stable at around 10% of the fleet,” he said. “However, the reluctance of governments in Asia, where the vast majority of ships are built, to address overcapacity in the shipbuilding sector remains a serious issue.”
Mr Bennett explained: “As well as the temptation to over order, decisions about when to recycle older ships are also fundamental to the equation. The good news is that a number of important regulatory uncertainties which have complicated decisions about when best to dispose of older ships are finally being resolved.
“In particular this includes the implementation dates of the IMO Ballast Water Management Convention. And while the precise cost of compliance with the IMO sulphur regulations is still unknown, the situation should become clearer after January 2020 now that IMO has confirmed that the implementation date of the global sulphur cap is irrevocable.”
ICS is also encouraged by the decision in 2018 by the Organization for Economic Co-operation and Development (OECD) to resume negotiations on an agreement to remove market distorting measures from shipbuilding that contribute to overcapacity. However it remains to be seen whether China (which is not an OECD member) will take an active part.
“Notwithstanding the risks of uncertainty in the immediate years ahead, in the long term there is always cause to remain optimistic,” said Mr Bennett. “The UN has revised its projections for population growth upwards to an incredible 8.6 billion in 2030 from 7.7 billion in 2018. Combined with seemingly unstoppable demand for higher living standards in emerging economies, this indicates that long term demand for international shipping should continue to increase significantly.”
Source: ICS
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Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
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