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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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Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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Showing 2516 to 2520 news of total 6871 |
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- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Australian Coal Association
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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