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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, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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Showing 1391 to 1395 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- White Energy Company Limited
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
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