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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.
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Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
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- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
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