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