We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
 What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these characteristics. Although trying to predict the market is never easy, digging into the fundamentals, along with the behavioral aspects that drive it, is probably the only way to go.
On one side there is the bear. There is no other factor more important than the actual demand for the physical commodity and its growth prospects have fallen behind expectations, as EIA’s data forecast the average price of Brent blend at $42/bbl for the current year and at $52/bbl for 2017. These numbers suggest that, despite its current short-term fluctuations between $40 and $50, crude oil market is in contango in the long-term. But the crucial factors that not only back-up these statements but also play their own role in dragging down the oil prices do not stop there. Add to the mix the excessive inventory building in both shore and floating tanks and the lower refinery margins and it would appear that the glut is here and is here to stay. Or is it?
On the other side there is the bull. Surprisingly, at the same time that the world’s biggest oil producer followed by Iran, Iraq and other OPEC members are pumping at historical record rates, the markets rallied from approximately $40 to almost $49 for an approximate 20% flat price increase in 7 trading days within August! Rational? No! Did it happen? It most certainly did! The lesson to be learned here is that even though the fundamentals may suggest a softening market, it only takes one statement from OPEC’s leading member to reverse the whole sentiment. “The situation will be discussed” said Saudi Arabia’s current minister and the markets obeyed.
To freeze or not to freeze? That is the million dollar question that the much anticipated OPEC meeting needs to answer for the markets to stabilize. However, it has already been proven that the statements of the cartel’s members are not always consistent with their actions and in this irrational market actions may not speak louder than words as record pumping rates firm the oil market instead of softening it!
But the uncertainty about the future does not stop at the primary crude oil market since the derivative oil product market closely follows its steps. An examination of the inventories in gasoline and diesel as benchmarks of the clean oil products across Europe, Asia and the USA reveals that these markets are also in contango. As a result, prices are pressured down with a direct impact to lower tanker rates for almost all the clean tanker segment. Furthermore, regional spreads that create arbitrage trading opportunities are diminishing, leading to lower rates for regional short-haul voyages performed by small tankers.
The most profound conclusion of the above is uncertainty in expectations, which results in volatility in both crude and product markets. These features are depicted in tanker rates, as the adverse conditions that exist in the oil markets surely enough spill over into the tanker markets. Thus, without owning the magic crystal ball, it would most probably be naïve to try to make a prediction about the future under current conditions. This situation may be a playground for oil traders who thrive on volatility, but a headache for tanker shipowners who may be called to tackle with another recession and try to ride the cycle one more time.
By Konstantinos Kakavitsas
Tanker Chartering
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The 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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
|
|
|
Showing 2221 to 2225 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
|
| |
| |
|
