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, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
|
|
|
Showing 2291 to 2295 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- The University of Queensland
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
|
| |
| |
|
