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Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
 Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and unsustainably low freight rates is still a major challenge ten years after the massive downturn of 2008.
Mr Bennett said: “In that time shipping companies needed to show restraint when ordering new ships, to prevent stifling recovery. Yet the dark clouds of protectionism and slowing growth in key economies mean that the avoidance of overordering is now more important than ever.”
Addressing an audience of shipowners and operators at the Global Maritime Summit 2019, organised in conjunction with the Turkish Chamber of Shipping, Mr Bennett acknowledged that individual operators would legitimately make their own individual business decisions regarding new tonnage.
“Opinion is still divided on whether the rapid globalisation that has been experienced in the last thirty years may have run its course, and whether the slower rate of trade growth seen since the 2008 crisis represents some kind of permanent structural change,” he said. “Certainly in 2019, the outlook for the global economy and thus demand for maritime transport appears to be worsening.
“Ship ordering (in deadweight tonnage) fell 14% in 2018, about 17% below the average since the 2008 downturn. This suggests that many shipowners may indeed be resisting the temptation to over order and in early 2019, the worldwide shipping order book appeared to be stable at around 10% of the fleet,” he said. “However, the reluctance of governments in Asia, where the vast majority of ships are built, to address overcapacity in the shipbuilding sector remains a serious issue.”
Mr Bennett explained: “As well as the temptation to over order, decisions about when to recycle older ships are also fundamental to the equation. The good news is that a number of important regulatory uncertainties which have complicated decisions about when best to dispose of older ships are finally being resolved.
“In particular this includes the implementation dates of the IMO Ballast Water Management Convention. And while the precise cost of compliance with the IMO sulphur regulations is still unknown, the situation should become clearer after January 2020 now that IMO has confirmed that the implementation date of the global sulphur cap is irrevocable.”
ICS is also encouraged by the decision in 2018 by the Organization for Economic Co-operation and Development (OECD) to resume negotiations on an agreement to remove market distorting measures from shipbuilding that contribute to overcapacity. However it remains to be seen whether China (which is not an OECD member) will take an active part.
“Notwithstanding the risks of uncertainty in the immediate years ahead, in the long term there is always cause to remain optimistic,” said Mr Bennett. “The UN has revised its projections for population growth upwards to an incredible 8.6 billion in 2030 from 7.7 billion in 2018. Combined with seemingly unstoppable demand for higher living standards in emerging economies, this indicates that long term demand for international shipping should continue to increase significantly.”
Source: ICS
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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
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