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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, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Economic Council, Georgia
- Sical Logistics Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
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