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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, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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Showing 2541 to 2545 news of total 6871 |
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- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
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