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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, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
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- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- The University of Queensland
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
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