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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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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
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Showing 1731 to 1735 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
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