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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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Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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Showing 1721 to 1725 news of total 6871 |
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- CNBM International Corporation - China
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
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