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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, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
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- Central Electricity Authority - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Economic Council, Georgia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- The Treasury - Australian Government
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