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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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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
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