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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, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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Showing 1756 to 1760 news of total 6871 |
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- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Planning Commission, India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
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