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, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
Friday, 05 June 15
U.S PRODUCED 15.1 MMST OF COAL THIS PAST WEEK; LESS 20.7% COMPARED TO SAME PERIOD IN 2014
COALspot.com – United States the second largest coal producer in the world has produced approximately totalled an estimated 15.1 million shor ...
|
|
|
Showing 2986 to 2990 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- The University of Queensland
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Economic Council, Georgia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
|
| |
| |
|
