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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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