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.
|
|
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
|
|
|
Showing 2921 to 2925 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
|
| |
| |
|
