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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, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- SMG Consultants - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
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