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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, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
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- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
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