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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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Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
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- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
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