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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, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
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- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- The University of Queensland
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
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