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Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
 Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is projected to pick up pace in 2017 and 2018”
April 2017- “Global economic activity is picking up with a long-awaited cyclical recovery in investment, manufacturing, and trade”
July 2017 - “The pickup in global growth anticipated in the April World Economic Outlook remains on track...”
October 2017 - “The global upswing in economic activity is strengthening, with global growth projected to rise by 3.8 percent in 2018, compared to 3.7 percent in 2017 [emerging countries]”
So, what has happened in 2017 that has been the drive of the recovery? Is it sustainable? According to a special report by the Economist, in the first half of 2017 the volume of the emerging-market exports increased by 4.6% compared to a year earlier, the fastest growth since 2011; not only this, during the same period the BRIC economies (Brazil, Russia, India and China) all grew simultaneously for the first time in three years and for the first time since 2009, twenty one out of twenty four emerging countries have reported higher - than the previous quarter - quarterly GDP figures.
After exceeding expectations in 2017, the global economy is projected to carry forward its current momentum to generate a 3% growth rate in 2018. China, the biggest contributor and the barometer of the shipping indexes, is expected to grow a bit slower compared to 2017, leaving India as the fastest-growing large economy contributing a growth of 7.8% in the world's GDP. The other countries of the area are also expected to hit growth in excess of 6%. The developed countries will also contribute since the momentum in mature economies increased during 2017 and it is expected to continue growing by a healthy 2.1% in 2018 - compared to the 1.8% 5-year average.
On the ship supply side, the dry bulk fleet (>20,000dwt) just exceeded ten thousand vessels (for the record, ten years ago the fleet was less than seven thousand ships); Whilst 430 vessels were delivered in 2017 the fleet increased by 226 vessels (2.3% fleet growth) as more than 200 bulk carriers were sold for demolition. For 2018 it is projected that the shipbuilders will deliver another four hundred forty vessels; so, if we can assume at least the same demolition activity with 2017 then the fleet growth will increase by about the same number of ships – less if you count slippage and non-reported cancellations. In absolute numbers the orderbook is also smaller compared to last year by about one hundred vessels. This means that despite all the 2017 placed orders, the orderbook was not replenished. The orderbook-to-fleet ratio is also at low levels not seen for many years, 9% for Handysize up to Kamsarmax size and 10% for Capes. So, with sustainable global economic growth, this could mean good news for shipowners.
So, after disappointing global growth over the past few years, this recent pickup combined with the relatively subdued fleet growth provides an ideal window of opportunity for the shipping industry to enjoy good returns.
Happy New Year to all and let’s hope to mark 2018 in our happy memories!
By Theodoros Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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