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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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Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- White Energy Company Limited
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
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