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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
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