We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
 It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of the Chinese stock market, the devaluation of the country’s currency a few days ago gave even to those who were optimistic in regards to global growth, more reasons to believe that the state of the economy of the world’s 2nd biggest oil consumer is not as strong as originally thought and possibly reflective of other developed economies as well. The sharp fall of oil prices is also partly indicative of these fundamentals.
Almost ten years ago oil was trading at USD46pbl when demand from China started pushing prices up, to a point that these reached almost USD160 pbl just before world economies went into recession. The oil supply glut is now pushing prices further down; with the less optimistic analysts believing that we could even see the 25 mark sooner rather than later.
The fall in prices that we are now witnessing was first predicted back in the middle of 2013, as easing of the Iranian sanctions was being discussed, Libya was about to start production again in a post-Gaddafi era and increased US production through fracking was taking place.
Many believe that the current collapse in prices is engineered by Saudi Arabia in an effort to knock out the US production as it is estimated that the cost of production of a fracking rig, including the financing cost, is about 70usd per barrel. So with oil prices in the region of 25-30usd it is very difficult for refineries in the US to compete and this is also evident in the fact that the number of fracking rigs dropped from 1608 in October 2014 to 747 in April 2015. So where do we stand now?
The first half of the year was brilliant for the tanker owners and nobody expected rates to remain as firm during the summer season as well, when seasonality always traditionally takes its toll on rates. The low oil prices environment supported dry cargo owners to achieve sustainable margins and tanker owners to gain more out of a very good market. The recent negative reversal though has been puzzling everyone. Despite the fact that a number of tanker owners believe that market will reverse course and start firming once again, it seems unlikely that year highs could be reached any time soon amidst the shock waves China keeps sending in the markets around the world.
Saying that, in the next couple of months many refineries are going into their scheduled semi-annual maintenance and about 70 million tons of crude will have to be stored, either on ships or in shore tanks. As demand cannot match supply and global growth is very likely to further decelerate, the tanker market is expected to remain somewhere around current levels, with lower oil prices supporting owners through smaller operating costs, helping them to achieve sustainable margins. The need for storage is at the same time expected to increase demand for dwt for 1-2 months period charters.
OPEC is the only entity that can save prices from further collapsing but there are currently no signs that the organization is heading towards this direction anytime soon, despite the fact that the consensus to start supporting prices is growing within its members. The next meeting scheduled in December is probably too far in the future to prevent a further significant drop even if it called for this much needed production cut. In the meantime, if world economies are set for further headwinds in the future, even cheaper oil doesn’t sound too bad.
By Stratos Tiniakos
Tanker Chartering 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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
|
|
|
Showing 2536 to 2540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
|
| |
| |
|
