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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, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
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- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Australian Coal Association
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
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