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Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
 Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according to the latest Shipping Confidence Survey. There was improved expectation of freight rate increases over the next twelve months, particularly in the dry bulk sector, and greater likelihood of new investment in the industry.
In February 2013, the average confidence level expressed by respondents in the markets in which they operate was 5.8 on a scale of 1 (low) to 10 (high), compared to the figure of 5.6 recorded in the previous survey in November 2012. The survey was launched in May 2008 with a confidence rating of 6.8.
All categories of respondent expressed increased confidence over the three-month period. The confidence rating for managers of 6.2 (up from 6.0 last time) was the highest since August 2010, while that for charterers was up from 5.6 to 6.0, the highest since November 2010. Confidence on the part of owners was up from 5.5 to 5.7 (the highest since May 2011) while for brokers the increase was from 5.3 to 5.6, the highest level in the past twelve months. Geographically, although confidence in Asia was down (from 6.0 to 5.6) and in North America (from 6.6 to 6.1) it was up in Europe, from 5.3 to 5.8, its highest level since August 2010.
Shipping partner, Richard Greiner, says, “Another small increase in confidence is very good news. Indeed, two successive quarters of improved confidence is in many ways more encouraging than one sizeable swing. It suggests that confidence is slowly building, indicating the start of a credible recovery.
“It is still early days, but the tone of the comments from respondents this time indicates something of a sea change. Whereas previous surveys have been dominated by concerns over specific issues such as tonnage overcapacity and the economic woes in Europe and elsewhere, this time there were no similar over-arching areas of concern identified by respondents. Indeed, the responses in many cases focused on planning for the future - for example by investing in new, fuel-efficient tonnage, exploiting new opportunities created by companies exiting the market, and exploring the possibilities for LNG as a clean fuel - rather than on compensating for past events.
“Improved confidence was reflected in another increase in the expectation levels involving potential new investments. Now is certainly a good time to invest, particularly for those who can identify a niche opportunity in a specific area, one for which there is growing demand and which is backed by a proper business plan.
“The indications are that the worst of the current shipping cycle could be over. But serious challenges lie ahead. Operating costs are going up, particularly fuel and manpower, and there is the added burden of increasing operational and environmental regulation. The cost of complying with the BWM convention has still not been accurately quantified, but it will not be insignificant. Indeed, one respondent likened it to a “ticking bomb which can go off at any moment, demanding enormous investment from already cash-strapped owners, and the banks will probably not be standing in line to support them.”
“Meanwhile, although freight rates still have a long way to go before they reach the levels seen at the height of the boom, the responses to the survey did reveal greater overall confidence in rate increases over the coming year in all three main tonnage categories. This was most evident in the dry bulk sector, where expectations of better rates were higher than at any time since the survey was launched in 2008. Although there is still a lot of new dry bulk tonnage coming into the market, scrapping levels in this sector have raced ahead, with well over 500 bulk carriers reported to have been consigned to demolition yards in 2012.
“Scrapping levels in all over-tonnaged sectors will need to be maintained, and improved upon, over the next twelve months, if shipping is to have a chance of returning to profitability. It is likely to be a slightly different industry which emerges from this prolonged downturn, one in which the banks will exert greater control for some time to come. Vessel values are likely to remain under pressure this year, and there is a lot of financial restructuring yet to be done. But shipping will retain its entrepreneurial flair, which is in no way undermined by operating from a stronger financial base.”
Source: Moore Stephens
About Moore Stephens
Moore Stephens was founded in London in 1907. Today, the UK network has over 1,500 partners and staff.
The Moore Stephens International association is now one of the leading international accounting and consulting associations outside the Big 4, comprising 630 offices of member and correspondent firms in 98 countries worldwide, involving over 20,000 partners, principals and staff.
The aim of Moore Stephens' member firms is to provide comprehensive modern services to clients globally, through the development and maintenance of a cohesive association that operates to the same high standards of professionalism and value in each country.
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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
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