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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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Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
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