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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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Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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Showing 1716 to 1720 news of total 6871 |
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- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Planning Commission, India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Chamber of Mines of South Africa
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