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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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Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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Showing 1296 to 1300 news of total 6871 |
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- Mercator Lines Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
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