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