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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Australian Coal Association
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Mjunction Services Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
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