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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, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- McConnell Dowell - Australia
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