We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
|
|
|
Showing 31 to 35 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
|
| |
| |
|
