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Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
 One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling trade-to-GDP ratio.
The falling ratio can be explained by slowing globalistation as well as increasing protectionist measures being implemented around the world, spear headed by the US. The raised barriers to trade are here to stay as we enter a new decade, with the shipping industry stuck with the consequences.
The trade war is the clearest example of these extra barriers to trade, and although a phase 1 deal was reached in December, the most difficult issues have yet to be addressed, and BIMCO therefore expects the trade war to continue to plague shipping between the US and China in 2020. Unfortunately, they are not the only countries engaging in tariff wars. The EU also faces additional tariffs from the US and we see trade tensions between Japan and South Korea.
The effects of the worsening of the fundamental shipping market balances this year will be felt in 2020, as the balance is not reset to zero when the calendar year changes. BIMCO continues to warn that the worsening balance between the supply of ships and the demand will be detrimental to shipowners’ ability to pass on the additional costs associated with compliance of the new IMO 2020 Sulphur Cap. It will depend on the freight rates to which extent the additional costs are covered, which in turn depend on the market conditions; the better the market, the easier it is to pass costs on.
Dry Bulk shipping
The biggest concern for Capesize shipping in 2020 is the trend in China, where iron ore imports may fall for the third year in a row. The structural change in China’s steel production, towards using scrap steel in favour of imported iron ore, means that Chinese demand for iron ore can no longer be counted on to increase demand for Capesize ships, with imports having peaked in 2017.
For the dry bulk shipping industry there is more bad news from China. Its soya bean imports have become an important part of the trade war and how it is viewed, but even aside from the trade war, the outlook for soya bean trades into China are weak. Its demand will be considerably lower due to the largest ever culling of pigs which consume most of China’s soya bean imports. It will take years for the Chinese pig population to return to the same size as before the cull, and even then, lowering the soya content in pig’s feed will have lasting consequences on these trades.
The high fleet growth in 2019 (4.1%) will play out into 2020 when the fleet is also expected to grow by more than demand. The cumulative impact of these growth rates mean that the gap between demand for shipping and the supply of ships will continue to grow, putting pressure on freight rates throughout the year.
Tanker Shipping
Crude oil tankers have certainly been in the headlines in 2019 due to geopolitical developments and as freight rates reached record levels as a result, but going into 2020, the fundamentals remain unchanged. This means that after the seasonal boost fades away in the first quarter, the high freight rates in the VLCC-market are likely to disappear, as the market fundamentals have in fact worsened in 2019, with an eight year high fleet growth of 6.3%.
Fleet growth has also been high in the oil product tanker market, with many owners aiming to benefit from the IMO 2020 Sulphur Cap and the boost that BIMCO expects it will bring to the oil product tanker shipping industry. The boost are on the back of the new trades for the transport of compliant bunker fuels from the refineries to the bunkering ports.
While this boost will improve tanker earnings in the first 3-6 months of 2020, once the short term boost will fade away, the challenge facing the market is that the new ships will still be around , and will instead be fighting for cargoes in an already over-supplied market.
One of the major developments expected in 2020 is for the US to become a net exporter of crude oil on an annual basis. The increasing proportion of global crude oil exports coming from the US is good news for the tanker industry as this involves longer sailing distances to the Far East, where the major importers are, compared to exports from the Middle East.
Source: Peter Sand, Chief Shipping Analyst, BIMCO
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Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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Showing 1216 to 1220 news of total 6871 |
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- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
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