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, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
|
|
|
Showing 3021 to 3025 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
|
| |
| |
|
