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Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
 This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population’s preference to leave the European Union. While the political dust has yet to settle, shipping market observers have had time to form their views on the impact of ‘Brexit’ on the industry. This week’s Analysis attempts to put the UK and the EU’s role in shipping in context.
Holding On
Once upon a time, of course, Britannia ‘ruled the waves’ and Great Britain, with its colossal maritime heritage (remember the British Empire?) was one of the world’s leading lights in ship ownership and shipbuilding. Today the story is a little different. UK owners account for just 2% of the global fleet in GT terms. The EU as a whole, however, remains a significant player, with 36% of world tonnage. While market share has shifted to the Asia-Pacific (39%), EU owners have held their own, led by the world’s largest owner nation in Greece, which has not been subject to its own ‘Grexit’ just yet.
Sailed East
Historically, Europeans were leading shipbuilders too, but in the modern era shipbuilding is dominated by Asia. In 2015, EU builders took 1.9m CGT of new orders (over 1,000 GT), 5% of the global total, and today account for 8% of the orderbook in CGT, whilst China, Korea and Japan together account for 84%. Europeans are now largely builders in the niche markets, dominating the cruise sector and maintaining a focus on small ships. Within the EU, the UK’s contribution is limited, with just two merchant vessels over 1,000 GT built since 2011.
Big Bloc
In terms of trade, the UK, given its status as the world’s 5th largest economy, accounts for a significant volume of imports and exports. However, in a global context these account for a relatively modest share. The UK’s imports account for an estimated 2% of global seaborne trade and its exports 1%. The EU, meanwhile, is much more significant, as befits its role as the world’s largest trading bloc, accounting for an estimated 16% of seaborne imports and 12% of exports.
Service Culture
One area where the UK and Europe maintain importance is as service providers. The UK is the world’s 14th largest flag and EU flags account for 18% of world tonnage. Lloyd’s Register in the UK is still a leading class society and along with DNV-GL and BV, the EU’s heavy-hitters, class 44% of the world fleet. Furthermore, London still remains one of the world’s pre-eminent maritime business hubs at the forefront of legal services, insurance and shipbroking too!
Wider, Still & Wider
However ‘Brexit’ plays out, it won’t go without notice. In fleet ownership or trade terms, the UK alone is not so significant (though the EU as a whole is). Perhaps the more important impact might be the wider fallout of uncertainty (or worse) surrounding one of the world’s largest economies. Meanwhile, the UK will be hoping that London can retain its role at the centre of commercial maritime affairs. Leaver or Remainer, have a nice day.
Source: Mr. Trevor Crowe, Clarkson Research | Hellenic Shipping News
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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
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