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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, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
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Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
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- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Minerals Council of Australia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
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