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Wednesday, 02 March 16
OIL MY GOD.....!!!!
 OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had been providing the world with about 2million barrels a day more than what demand supported.
Today oil is trading at its 12 year low, 70% down today since mid-2014. Low oil prices might be welcome by consumers and businesses, but economies, financial markets, oil and gas producers, are not on the same side of the table. We feel the need to focus on the present OPEC talks about a possible cut back in production so to lift prices off the low levels of today. Last week, Saudi Arabia and Russia the world’s biggest oil producers joined Venezuela, Kuwait and Qatar in an agreement to cap output. As per talks, all countries agree to cut back their respective production, with the prerequisite that this will be a unanimous decision by all.
It is very uncertain if Iran would participate in such decision, as finally being in a post-sanctions era, the country will try to regain market share and that will surely involve growing production. True expectation from this action is to find a better equilibrium and to match supply with demand as today supply still exceeds demand and record global oil stockpiles continue to mount. A production freeze would not create an immediate price shock, however if an agreement comes into place soon, we should see oil prices correcting upwards sometime in the 2nd half of this year.
Moving on to our industry, it is no secret that tankers have been enjoying great rates because of increased oil demand, while they have been also benefiting from low bunker prices. Bulkers, despite suffering severely due to low freights, have pretty much found a lifejacket in the form of low bunker costs, although –something that is not often said - slow steaming is no longer slow, which in itself has been weighing down on rates.
Although the effects of low oil prices on both tankers and bulkers have been widely discussed, little has been said for the positive effects that the Passenger and Ro-Pax sectors have been enjoying. About two years ago, bunker expenses where accounting for more than 65% of their voyage operating costs. Today that bunkers have been reduced by 70%, these costs represent about 20% of the present voyage costs.
Needless to say that currently and without taking into consideration any increase in demand for their services nor any increase in car/truck and passenger traffic, these ships have had a significant improvement in their generated net profits. On top of that, there is a lack of tonnage available particularly in the 110-130m LOA size and also in the 2,000-2,500 passenger capacity and 2,000-3,000 lane meter garage space. Not many ships were built post 2000 as prevailing bunker prices then made operation of these ships marginally profitable or non-profitable at all. Values of existing ships have increased, as the cash flow generated is attractive and lacking any replacement candidates.
To put it simply; the cost of replacement is practically the cost of building a new ship! All these factors have boomed the Ro-Pax business both domestically here in Greece as well as internationally and the prospects for this niche market seem very positive for the future times ahead. Interest is there to invest and also to build new ships based on LNG fueled and other innovative ship design developments.
By John N. Cotzias
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
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- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
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