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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, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
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- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- VISA Power Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
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