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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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Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
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