We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
 After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the Costa Concordia, further problems in the euro zone, pirate attacks and increased sanctions," according to Willis Global Marine, part of Willis Group Holdings.The latest Willis Marine Market Review reveals that the” hull market is in a state of flux following the Costa Concordia disaster in January. Some underwriters in the London insurance market, which will bear the majority of the estimated $500 million hull claim, are adamantly refusing premium reductions or even flat renewals. However, unaffected underwriters in the Far East and Scandinavia are more open to negotiations.
A word from our sponsor:
Combat fraud and improve pricing accuracy. Significant premium is paid in fraudulent claims or lost to rate evasion. Prevent this by identifying potentially deceptive claims early.
TransUnion Risk Verification Platform uses comprehensive data for actionable results at point-of-quote. Reduce fraud. Improve pricing accuracy.
“Marine liability underwriters meanwhile are hoping the disaster drives through a general hardening of rates, with many seeking 5 percent increases going forward. ”
However, as far as cargo insurance is concerned, the report notes that “buyers continue to enjoy the benefits of a soft market, achieving reductions in both premium and deductibles, as well as increases in limits, at little or no additional cost. Despite ever-dwindling returns to insurers, competition for business remains fierce with a flurry of new entrants creating excess capacity.”
Piracy remains a major concern, as cargo underwriters continue to be affected by what Willis said “continues to blight the shipping industry with no clear resolution in sight.” This is despite the fact that “security measures taken by ship-owners are increasingly effective with less than 20 percent of attacks successful in 2011.” However, the report notes, “this has only served to increase the demands and expectations of those attacks that do occur with total ransoms increasing 77 percent from 2010.”
Alistair Rivers, CEO of Willis Global Marine, commented: “For many marine insurers the year began badly with the loss of the Costa Concordia cruise liner. It was a timely reminder that 100 years on from the loss of the Titanic, disasters on this scale are still possible despite all the industrial and technological advancements. But while this loss may have stiffened the hull market, the long term impact is questionable. The P&I and Liability aspects of this loss will be of far greater significance to insurers as matters evolve throughout the year.
“However, a truly hard market is a mirage as long as capital providers are prepared to tolerate marginal returns from their hull and machinery book. These are difficult times for the maritime industry: world shipping is in recession; the economic turmoil continues to dampen demand; pirates are seizing property and crew; and increased sanctions demand further resources and attention. But maritime trade has seen and overcome similar challenges in the past and the entrepreneurial spirit that drives the industry remains intact.”
The Marine Review describes this years’ February P&I renewals as “disproportionately confrontational and protracted as ship-owners operating in one of the worst economic environments for a generation contested even inflationary increases from Clubs. On average, rate increases of 4 percent were achieved.
“Excess capacity in the Asian marine insurance market is putting pressure on rates as local and foreign insurers compete for market share. Asia is now home to around half of the world’s merchant fleet, 14 of the top 20 ports and three of the largest ship building nations.
“In the commodity insurance market, underwriters are responding to commodity price volatility by tightening clauses and scrutinizing policy wordings with prices edging up for technically unsound risks.
“Rates continue to slide in the Super Yacht insurance market due to a combination of modest loss ratios, underperformance in the hull market and increased capacity. The economic problems in the euro zone have also caused some Super Yacht owners, particularly in the US, to scrutinize the stability of European insurance markets.”
Source: Willis Global Marine / Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
|
|
|
Showing 4741 to 4745 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Australian Coal Association
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
|
| |
| |
|
