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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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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
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