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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, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
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- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
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