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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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Thursday, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
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