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