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.
|
|
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
Monday, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
|
|
|
Showing 2226 to 2230 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
|
| |
| |
|
