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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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Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Australian Coal Association
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Parliament of New Zealand
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Economic Council, Georgia
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