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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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Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
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- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
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