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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Parliament of New Zealand
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
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