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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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Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
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- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- The University of Queensland
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
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