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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, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
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- GMR Energy Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Parliament of New Zealand
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
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