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.
|
|
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
|
|
|
Showing 4781 to 4785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Australian Coal Association
- Romanian Commodities Exchange
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
