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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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Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
...
Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
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Showing 1711 to 1715 news of total 6871 |
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- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Mercator Lines Limited - India
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