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.
|
|
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
|
|
|
Showing 4751 to 4755 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
|
| |
| |
|
