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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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Monday, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
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- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Planning Commission, India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Australian Coal Association
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
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