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