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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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Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
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- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
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