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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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Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
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- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
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