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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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Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
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