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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
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- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
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