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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, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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Showing 1236 to 1240 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- The University of Queensland
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- White Energy Company Limited
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
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