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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
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