China poured $20 billion into ship financing this year, reflecting the country’s ambition to become the world’s dominant maritime player as European banks have scaled back their investments.
Operators believe the current downturn is different to previous crashes with most savings made since 2014 here to stay; our analysis points to a less clear-cut picture. Although undoubtedly some savings will stick, what conclusions can we draw before cyclical drivers weaken, revealing a reshaped industry and supply chain?
The global newbuild ship orderbook has fallen to a historical low of 10% but the global shipping industry’s US$231 Billion CAPEX requirements remain enormous and far exceeds the combined US$191 Billion market capitalisation of all the world’s listed shipping firms.
Shipping confidence held steady at its highest rating in the past three-and-a-half years in the three months from September to November 2017, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens.
The Nigerian Chamber of Shipping (NCS), has sealed an agreement with the African Finance Corporation (AFC), for alternative financing facilities for ship and maritime asset management in Nigeria.
The rally which started in the crude oil price may not be over yet. Most experts tracking the commodity sees it heading towards $80-90/bbl in the next two years.
There are two telling issues that stand out in the 2016 OECD report on ocean economies. The first is the way many of these industries are intertwined with one another. The second is that all of these industries are set to grow, and must do so, not only in a truly sustainable way, but in a manner that is beneficial across the ocean industry spectrum.
Orca Exploration Finalizes Terms for US$130 Million Investment by Swala Oil & Gas (Tanzania) plc in the Orca Group
Oman's public finance expenditure grew by 5.6 per cent to reach OMR9.42 billion by the end of October 2017, compared to OMR8.92 billion during the corresponding period last year, according to data released by the National Centre for Statistics and Information.
DryShips Inc., a diversified owner of ocean going cargo vessels, announced the following transactions: