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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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Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
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