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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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Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
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Showing 2511 to 2515 news of total 6871 |
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- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- MS Steel International - UAE
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
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