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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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Monday, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
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- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
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