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Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
 One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling trade-to-GDP ratio.
The falling ratio can be explained by slowing globalistation as well as increasing protectionist measures being implemented around the world, spear headed by the US. The raised barriers to trade are here to stay as we enter a new decade, with the shipping industry stuck with the consequences.
The trade war is the clearest example of these extra barriers to trade, and although a phase 1 deal was reached in December, the most difficult issues have yet to be addressed, and BIMCO therefore expects the trade war to continue to plague shipping between the US and China in 2020. Unfortunately, they are not the only countries engaging in tariff wars. The EU also faces additional tariffs from the US and we see trade tensions between Japan and South Korea.
The effects of the worsening of the fundamental shipping market balances this year will be felt in 2020, as the balance is not reset to zero when the calendar year changes. BIMCO continues to warn that the worsening balance between the supply of ships and the demand will be detrimental to shipowners’ ability to pass on the additional costs associated with compliance of the new IMO 2020 Sulphur Cap. It will depend on the freight rates to which extent the additional costs are covered, which in turn depend on the market conditions; the better the market, the easier it is to pass costs on.
Dry Bulk shipping
The biggest concern for Capesize shipping in 2020 is the trend in China, where iron ore imports may fall for the third year in a row. The structural change in China’s steel production, towards using scrap steel in favour of imported iron ore, means that Chinese demand for iron ore can no longer be counted on to increase demand for Capesize ships, with imports having peaked in 2017.
For the dry bulk shipping industry there is more bad news from China. Its soya bean imports have become an important part of the trade war and how it is viewed, but even aside from the trade war, the outlook for soya bean trades into China are weak. Its demand will be considerably lower due to the largest ever culling of pigs which consume most of China’s soya bean imports. It will take years for the Chinese pig population to return to the same size as before the cull, and even then, lowering the soya content in pig’s feed will have lasting consequences on these trades.
The high fleet growth in 2019 (4.1%) will play out into 2020 when the fleet is also expected to grow by more than demand. The cumulative impact of these growth rates mean that the gap between demand for shipping and the supply of ships will continue to grow, putting pressure on freight rates throughout the year.
Tanker Shipping
Crude oil tankers have certainly been in the headlines in 2019 due to geopolitical developments and as freight rates reached record levels as a result, but going into 2020, the fundamentals remain unchanged. This means that after the seasonal boost fades away in the first quarter, the high freight rates in the VLCC-market are likely to disappear, as the market fundamentals have in fact worsened in 2019, with an eight year high fleet growth of 6.3%.
Fleet growth has also been high in the oil product tanker market, with many owners aiming to benefit from the IMO 2020 Sulphur Cap and the boost that BIMCO expects it will bring to the oil product tanker shipping industry. The boost are on the back of the new trades for the transport of compliant bunker fuels from the refineries to the bunkering ports.
While this boost will improve tanker earnings in the first 3-6 months of 2020, once the short term boost will fade away, the challenge facing the market is that the new ships will still be around , and will instead be fighting for cargoes in an already over-supplied market.
One of the major developments expected in 2020 is for the US to become a net exporter of crude oil on an annual basis. The increasing proportion of global crude oil exports coming from the US is good news for the tanker industry as this involves longer sailing distances to the Far East, where the major importers are, compared to exports from the Middle East.
Source: Peter Sand, Chief Shipping Analyst, BIMCO
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Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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Showing 1216 to 1220 news of total 6871 |
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- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
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