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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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Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
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- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Australian Coal Association
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
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