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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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Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
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- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Australian Coal Association
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
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