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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, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
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Showing 1746 to 1750 news of total 6871 |
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- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
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