We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
 BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016.
The oil product tanker market has reached a net fleet growth of 4.3m DWT so far in 2016. That is well in line with BIMCO’s full estimate of 8.5m DWT for the full year 2016. The main drivers of the total growth continue to be the MRs and LR2s.
With a net fleet growth of 5.8 % in 2015, the oil product tankers are looking to continue the trend of elevated supply growth with 3.0 % growth so far in 2016 – for the full year BIMCO expects 6.0 %.
Chief Analyst Peter Sand comments: “The LR2s and MRs are the leading segments for fleet growth in the oil product tanker market – in percentage as well as DWT in 2014 and 2015. This trend continues into the first half of 2016. Based on the current and anticipated new orders, BIMCO expects the net fleet growth in 2016 to be around the same level as in 2015 and likely to come down in 2017.
The earnings have been in decline since the beginning of 2016 and are actually at the lowest since Q3 in 2014. The reason for the decline is a combination of fleet growth alongside the deceleration of oil product stock building that was seen at the end of 2015 and early 2016. This is diminishing demand growth. While oil product production has been running ahead of end consumption, oil product tanker demand has risen above trend”.
Earnings decreasing into Q2 2016
All four oil product tanker segments have experienced an overall decline in earnings in 2016, with the LR2 seeing a 54 % decline from USD 33,966 per day from 1 January 2016 to USD 15,703 per day on 24 June 2016.
Peter Sand adds: “Due to our expectations that the freight rates would decline, we recommended back in January to fix some capacity on longer timecharters for companies with a high exposure to the spot market. We still see this need. As the spot rates are declining it is important to manage your risk and exposure to the market, as earnings could drop even further”.
Despite the demand side growing more than anticipated, the inflow of new tonnage has affected the freight market fundamentals and led to the present earnings.
Demand and supply for global oil is set to even out in Q3.
The demand growth for global oil according to The International Energy Agency (IEA) is up by 1.4 million barrels per day (mb/d) year on year for Q1 2016, compared to the previous expected 1.2 mb/d. Furthermore, they expect the demand and supply for global oil to be in balance in Q3 2016.
Peter Sand comments: “This balance puts an overhanging risk onto the global oil stockbuilding, which we have seen being built up on a large scale since mid-2014. When the global oil supply no longer outstrips global oil demand and the refineries cannot take advantage of the low and volatile crude oil prices, they do not contribute to further stockbuilding.
The increase in global oil demand and eventual levelling out over supply of oil means we will stop building stocks. We may even begin to draw down on the swollen stocks. This in turn presents an outside risk to the oil product tanker market. However, we could also see the new stock levels become permanent and so the tanker demand will not be affected in this way. Only time will tell how the dynamics will play out”.
Source: BIMCO
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
|
|
|
Showing 2381 to 2385 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- The University of Queensland
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
|
| |
| |
|
