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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, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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