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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, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
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- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
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