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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.
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.
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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
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