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Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
 It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fail to learn from your mistakes. So much so in fact that, like a scientist studying the formation of the universe, it should become possible to predict the past too.
Shipping knows exactly how this feels, having ignored the simplest of supply/demand equations and instead put its faith in fanciful predictions that the world – and therefore business – had changed forever.
The trouble is that the more things change, the more they also stay the same. The belief that an industry could break completely free of the cycles which had marked its history for hundreds of years was in fact a departure from reality, the consequences of which we continue to live with.
At least we know now, in case we did not before, that the world will continue to be a difficult place in which to trade, and one need only attend one of the regular shipping industry trade shows to experience that feeling first hand.
Even in Asia, grounded more in trade and consumption rather than the optimism of capital markets, there is an expectation that the world which emerges from the industry’s longest downturn in a generation will be different to the one that went into it.
Classification Society Lloyd’s Register used the recent Singapore Maritime Week to launch its own piece of long range research, laying down competing scenarios of what the industry might have to be grappling with by 2030.
A thorough piece of work put together by LR, QinetiQ and Strathclyde University, it nonetheless can only really succeed in telling the reader what they might already suspect, particularly with regard to the economic/political backdrop.
It seems highly unlikely, for example, that the world will adopt anything but an aggressive posture to protection and preference, not simply for the length of the recession but subsequently, as the emerging nations that (again, we know) will come to dominate the industry flex their muscles.
The shipping industry gives thanks en masse for China’s rise but it must surely recognise that the trading partner with which it will have to deal is no US, no Europe, not even a Russia.
Shipping has traditionally enjoyed freedom of capital, movement of people, goods and services, all commodities it cannot be certain will be so readily available in future. The evidence of the tension emerging in Singapore last week over the need to balance immigration against the requirement to import skills to cement the city-state’s future growth is one clear example and far from being the only one.
Shipping also likes to be left alone and to do its own thing, rather in the same way as entrepreneurs enjoy conditions of privacy to found and grow businesses – unfettered by regulation and competitive constraints, served by relatively free-flowing debt financing.
Again, little to no hope there. Shipping’s dalliance with unreality has left it, if not high and dry, then in a new room with different lenders with very different ideas compared to its former ship finance partners.
Shipping is also highly regulated, but in some areas, less highly regulated than other comparable industries. The trouble is that the industry has done a bad job too often of arguing its case that the positives outweigh the negatives.
There are a number of reasons for that, not least that its main regulator has to juggle the demands of being a technical body on the one hand with being a political one on the other. The tidal wave of opprobrium heaped upon regulators during CMA was a little less obvious during Maritime Week but it is clear the costs of compliance, the need to demonstrate transparency and the requirement to operate under greater scrutiny will all be firm future requirements.
But can shipping change by enough to meet these needs? Of course it should – by practising restraint, by being more commercially adept, by making friends with regulators earlier in the rulemaking process, by recognising that market share without profit margin is a pointless metric and that it something looks too good to be true, it probably is.
To carve out a survival strategy that goes beyond merely putting off the inevitable for another seven years, shipping certainly has to get smarter, and not just in terms of the above commercial issues, however pressing they appear.
Shipping needs to cure itself of the affliction that it has suffered under for at least the last 20 years – you take care of providing sufficient growth, we’ll take care of the rest. The industry is being asked tough questions about its place in the world, just at the time when it has demonstrated the definition of commercial irresponsibility and lack of regulatory engagement. So, back to the future. There is a fine living to be made predicting even short term scenarios, but better cuttings and weblinks to be garnered by mopping up in the aftermath. Most of those doing the latter focus on how we failed to spot the emergence of various technologies and services in time to either make our fortunes or to adopt them to our competitive advantage, preferring to dismiss them as the short term fads driven by people who just want to sell us things before our current things have worn out.
But watch this space – there are two factors that will be decisive in marking out corporates for survival and perhaps the wider industry for adaptive evolution: attitudes to people and the use of technology. The entry into force of the MLC might not by itself guarantee better working conditions for all seafarers but it demonstrates a much clearer focus by regulators that owners will be unable to ignore and should turn to their advantage.
And as for technology? Well, without new approaches to designing, building and operating ships, incorporating not just some tried and trusted techniques but new – and as yet unproven – technologies, there is little hope of meeting future regulatory hurdles and energy efficiency requirements.
I said that predicting the past was possible and here is the history lesson. Owners will adapt and survive. Some will leave the stage and some big names disappear but long before 2030, we will see a new industry emerge. In fact this is not a prediction. It will have to happen.
Source: BIMCO / Hellenic Shipping
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Friday, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
Thursday, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
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- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
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