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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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Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
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Showing 1856 to 1860 news of total 6871 |
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- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- The University of Queensland
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
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