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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, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
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