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