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