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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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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Planning Commission, India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PTC India Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
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