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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, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
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- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
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