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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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Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
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