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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, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
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- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
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