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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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- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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