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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, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
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- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
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