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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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Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
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Showing 2521 to 2525 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
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