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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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Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
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- Bhatia International Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
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