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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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Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
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- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
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