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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- PTC India Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
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