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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
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