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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, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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Showing 2541 to 2545 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
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