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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, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
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- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
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