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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
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