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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 to a four-year high at 6.4 out of 10.0. Confidence on the part of owners was also at a four-year high, up from 6.4 to 6.6, while managers’ confidence was up too, from 6.1 to 6.4. The rating for charterers, however, continued its recent erratic performance – down to 5.0 from 7.7 in November 2017, but up on the 4.7 recorded in August 2017.
Confidence on the part of brokers, meanwhile, was down from 6.3 to 6.1. Confidence was up in Europe from 6.3 to 6.6, equalling the highest ever rating for this category of respondent in the life of the survey, which was launched in May 2008 with an average confidence rating across all respondents in all geographical areas of 6.8. Confidence was also up in Asia, from 5.7 to 6.3, and in North America, from 5.8 to 5.9.
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“The shipping market is still characterised by high volatility and excess tonnage in most sectors, particularly bulk carriers and tankers, but there is cause for slight optimism.”
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Survey analysis
The likelihood of respondents making a major investment, or significant development, over the next 12 months was up on the previous survey from 5.3
to 5.5 out of a maximum possible score of 10.0, its highest level since May 2014. Of note was the increased confidence of charterers (up from 6.2 to 6.8) and of managers (up from 5.3 to 5.6). Geographically, increased expectations of major investment were highest in Asia (up from 5.0 to 5.8).
The number of respondents who expected finance costs to increase over the coming year was up from 59% last time to 64%, the highest figure since May 2008 (66%)
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“Starting next year, the industry looks set to benefit from capacity reductions at shipyards, but the cost of funding will rise for most market participants.”
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Freight markets
The number of respondents expecting higher rates over the next 12 months in the tanker market was down by five percentage points on the previous survey to 39%, whilst those expecting lower rates were unchanged at 13%. Meanwhile, there was a four percentage-point increase, to 54%, in the numbers anticipating higher rates in the dry bulk sector, accompanied by a four percentage-point fall to 8% in the numbers anticipating lower rates. In the container ship sector, there was a two percentage-point increase to 38% in the numbers expecting higher rates, and a three percentage-point fall, to 12%, in those anticipating lower rates.
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“The supply and demand equation will balance out in line with industry growth rate over the coming years.”
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Crude oil prices
When asked to predict where per-barrel crude oil prices would be in 12 months’ time, 36% of respondents opted for the $60-$69 range, as opposed to 29% when the same question was posed in February 2017. The 19% of respondents who opted for the $50-$59 range was just half the 38% who did so last year, while 28% of respondents favoured the $70-$79 price range, as opposed to just 10% 12 months ago.
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“In order to survive in a shipping industry characterised by low freight rates, we must try to reduce ship management expenses.”
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Conclusion
The volatile nature of the shipping industry dictates that optimism should be tempered with caution. But a four-year high in confidence must be welcomed as extremely good news. Shipping is more confident of making a major new investment over the next 12 months than at any time in almost four years, even though finance will probably be costlier to access in the year ahead. Net freight rate sentiment is positive in all main tonnage categories, and, whilst down in tankers, it increased both in the dry bulk and container ship trades. Familiar problems persist. Excess tonnage in many trades and insufficient demolition levels continue to perpetuate uncertainty, and freight rates are not yet at the levels required to turn promise into reality.
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Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
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Showing 1696 to 1700 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Wilmar Investment Holdings
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