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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
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