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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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Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
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Showing 1861 to 1865 news of total 6871 |
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- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
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