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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, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- The University of Queensland
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
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