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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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Monday, 09 September 19
ULTRAMAX: ASIA A 58,000-TONNER FIXED DELIVERY FUZHOU, VIA INDONESIA, REDELIVERY CHINA, AT $12,800
Capesize
0px The market reached new heights this week as the 5TC topped $38,014, a level not seen in the sector since 2013. Fridays 5TC closed ...
Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
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- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
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