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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, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
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Showing 4326 to 4330 news of total 6871 |
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- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
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