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Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
 The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead Transport survey from global law firm Norton Rose Fulbright. China and India are the most popular jurisdictions for investment, followed by the US, with growth through consolidation viewed as the best investment opportunity currently. While confidence among respondents from the aviation and rail industries is high, owing to lower oil prices, the availability of funding and the impact of infrastructure improvements, the shipping industry remains the least optimistic as a result of overcapacity in many subsectors of the market.
Over half (52%) of all respondents to the Norton Rose Fulbright survey agree that a global recession poses the greatest threat to their industry. However, despite political uncertainty, most agree that the transport sector can expect to enjoy further growth over the next five years. Rising passenger numbers and freight volumes are anticipated (by 73%) and an increase in the number of routes and services is expected (52%).
Investment in technology is expected to rise, according to 67%, with low carbon technology and predictive analytics expected to represent the most significant driver of change in the transport sector over the next five years.
Infrastructure remains a key theme for the sector. After consolidation, infrastructure improvements are viewed as the best investment opportunity currently (by 19%), and infrastructure investment is seen as the most helpful form of government support (by 25%). For the aviation, rail and road industries, inadequate infrastructure is seen as the greatest challenge to the operational efficiency of their industries.
Bank debt, capital markets and private equity will represent transport businesses’ main sources of funding over the next two years, and 74% of respondents expect the availability of funds to stay the same, or even increase, over the next five years.
Harry Theochari, global head of transport at Norton Rose Fulbright, comments:
“The transport sector is continuing to look to Asia Pacific for investment opportunities, encouraged by rising demand and China’s ambitious Belt and Road initiative, a modern day silk road which will improve China’s infrastructure links with the rest of the world.
“Sentiment is high in the aviation and rail industries, buoyed by the expectation of increased passenger numbers. However, shipping continues to feel the effects of overcapacity in many markets, and an increase in enforcement actions is widely predicted, although in the longer term respondents believe conditions will improve.
“Investment in infrastructure and technology, and consolidation through both M&A and joint ventures, will be key drivers for transforming the transport sector and assisting growth.
“The adoption of new technology in particular will help to address numerous issues the sector has been grappling with in recent years, such as low carbon technology to meet increasingly stringent environmental legislation, and predictive analytics to anticipate repairs and maintenance and better understand and forecast consumer behavior.
“While respondents are most fearful of the impact of a worldwide recession, they will be watching closely the implications of the UK’s referendum result. The transport sector is international and highly regulated and any UK exit from the EU would need to take into account a number of complex issues.”
Shipping
Shipping is the least optimistic industry within the transport sector, by a significant margin. Only 15% believe that current market conditions are positive, down from 33% in 2015 and 69% in 2014.
Overcapacity is the principal reason given for this lack of optimism (66%), followed, to a lesser extent, by economic uncertainty in key markets (27%).
Respondents are more optimistic when asked to consider the outlook for shipping over the next five years. Fares and freight costs will increase according to 67% and the same proportion anticipate an upturn in passenger numbers and freight volumes. The number of routes and services offered is also expected to rise, according to 35%. However, just 22% believe that funding will become more readily available and 64% think that the number of enforcement actions will increase as lenders seek to protect their positions and recover losses. Most (68%) expect fuel costs to rise.
Investment opportunities
Much of the shipping industry (58%) continues to favour Asia Pacific for investment opportunities over the next two to five years, followed, to a far lesser extent, by Europe (16%). China (17%) and India (16%) remain the most popular markets for investment.
A merger or acquisition is seen as the optimal investment opportunity (by 34%, up from 29% in 2015), while 13% favour joint ventures, alliances and pools (down from 28% in 2015).
Respondents expect consolidation to be at the centre of shipping businesses’ strategies over the next 12 months, either in the form of M&A (22%) or joint ventures (19%), while 22% expect a focus on the disposal of non-core assets. Almost three-quarters (72%) expect investment in technology to increase over the next five years, with low carbon technology expected to have the most significant impact on the industry during this period (by 33%), followed by predictive analytics (by 24%).
Regulation
Almost half (42%) believe that greater transparency in the application and enforcement of existing and proposed regulations would be the most helpful form of government support for the shipping industry, more so than fiscal incentives (32%) or investment in infrastructure (29%). Environmental regulation is seen as the regulation that has had the greatest impact on shipping over the past decade (by 49%), followed by trade and financial sanctions (by 25%).
Supply and demand imbalances are seen as the greatest challenge to the operational efficiency of the industry (by 47%), followed by a lack of qualified people (12%) and emission controls (9%). A global recession is seen as the greatest threat to the health of shipping over the next five years (by 68%). To a lesser extent, respondents are also concerned about the impact of enforcement by creditors on debt obligations (12%) and continued political and economic uncertainty in the Eurozone (8%).
Bank debt is once again expected to act as shipping’s primary source of funding over the next two years (22%), followed by shareholder support (18%) and private equity (16%).
Despite the problem of overcapacity in many sub-sectors of the industry, fuelled by new build vessels coming on to the market, 11% think that ECA funding will be the industry’s main
source of finance.
Source: Norton Rose Fulbright | Hellenic Shipping
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Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
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