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.
|
|
Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
|
|
|
Showing 3036 to 3040 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
|
| |
| |
|
