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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Tata Chemicals Ltd - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Aditya Birla Group - India
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