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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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Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
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- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Economic Council, Georgia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- The University of Queensland
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- White Energy Company Limited
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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