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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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Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
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