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Wednesday, 02 March 16
OIL MY GOD.....!!!!
 OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had been providing the world with about 2million barrels a day more than what demand supported.
Today oil is trading at its 12 year low, 70% down today since mid-2014. Low oil prices might be welcome by consumers and businesses, but economies, financial markets, oil and gas producers, are not on the same side of the table. We feel the need to focus on the present OPEC talks about a possible cut back in production so to lift prices off the low levels of today. Last week, Saudi Arabia and Russia the world’s biggest oil producers joined Venezuela, Kuwait and Qatar in an agreement to cap output. As per talks, all countries agree to cut back their respective production, with the prerequisite that this will be a unanimous decision by all.
It is very uncertain if Iran would participate in such decision, as finally being in a post-sanctions era, the country will try to regain market share and that will surely involve growing production. True expectation from this action is to find a better equilibrium and to match supply with demand as today supply still exceeds demand and record global oil stockpiles continue to mount. A production freeze would not create an immediate price shock, however if an agreement comes into place soon, we should see oil prices correcting upwards sometime in the 2nd half of this year.
Moving on to our industry, it is no secret that tankers have been enjoying great rates because of increased oil demand, while they have been also benefiting from low bunker prices. Bulkers, despite suffering severely due to low freights, have pretty much found a lifejacket in the form of low bunker costs, although –something that is not often said - slow steaming is no longer slow, which in itself has been weighing down on rates.
Although the effects of low oil prices on both tankers and bulkers have been widely discussed, little has been said for the positive effects that the Passenger and Ro-Pax sectors have been enjoying. About two years ago, bunker expenses where accounting for more than 65% of their voyage operating costs. Today that bunkers have been reduced by 70%, these costs represent about 20% of the present voyage costs.
Needless to say that currently and without taking into consideration any increase in demand for their services nor any increase in car/truck and passenger traffic, these ships have had a significant improvement in their generated net profits. On top of that, there is a lack of tonnage available particularly in the 110-130m LOA size and also in the 2,000-2,500 passenger capacity and 2,000-3,000 lane meter garage space. Not many ships were built post 2000 as prevailing bunker prices then made operation of these ships marginally profitable or non-profitable at all. Values of existing ships have increased, as the cash flow generated is attractive and lacking any replacement candidates.
To put it simply; the cost of replacement is practically the cost of building a new ship! All these factors have boomed the Ro-Pax business both domestically here in Greece as well as internationally and the prospects for this niche market seem very positive for the future times ahead. Interest is there to invest and also to build new ships based on LNG fueled and other innovative ship design developments.
By John N. Cotzias
SnP 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.
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Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
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