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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, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
Wednesday, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
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- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
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