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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, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
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