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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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Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
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- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
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