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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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Showing 1391 to 1395 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
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