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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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- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- The Treasury - Australian Government
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
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