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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
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