We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
 BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016.
The oil product tanker market has reached a net fleet growth of 4.3m DWT so far in 2016. That is well in line with BIMCO’s full estimate of 8.5m DWT for the full year 2016. The main drivers of the total growth continue to be the MRs and LR2s.
With a net fleet growth of 5.8 % in 2015, the oil product tankers are looking to continue the trend of elevated supply growth with 3.0 % growth so far in 2016 – for the full year BIMCO expects 6.0 %.
Chief Analyst Peter Sand comments: “The LR2s and MRs are the leading segments for fleet growth in the oil product tanker market – in percentage as well as DWT in 2014 and 2015. This trend continues into the first half of 2016. Based on the current and anticipated new orders, BIMCO expects the net fleet growth in 2016 to be around the same level as in 2015 and likely to come down in 2017.
The earnings have been in decline since the beginning of 2016 and are actually at the lowest since Q3 in 2014. The reason for the decline is a combination of fleet growth alongside the deceleration of oil product stock building that was seen at the end of 2015 and early 2016. This is diminishing demand growth. While oil product production has been running ahead of end consumption, oil product tanker demand has risen above trend”.
Earnings decreasing into Q2 2016
All four oil product tanker segments have experienced an overall decline in earnings in 2016, with the LR2 seeing a 54 % decline from USD 33,966 per day from 1 January 2016 to USD 15,703 per day on 24 June 2016.
Peter Sand adds: “Due to our expectations that the freight rates would decline, we recommended back in January to fix some capacity on longer timecharters for companies with a high exposure to the spot market. We still see this need. As the spot rates are declining it is important to manage your risk and exposure to the market, as earnings could drop even further”.
Despite the demand side growing more than anticipated, the inflow of new tonnage has affected the freight market fundamentals and led to the present earnings.
Demand and supply for global oil is set to even out in Q3.
The demand growth for global oil according to The International Energy Agency (IEA) is up by 1.4 million barrels per day (mb/d) year on year for Q1 2016, compared to the previous expected 1.2 mb/d. Furthermore, they expect the demand and supply for global oil to be in balance in Q3 2016.
Peter Sand comments: “This balance puts an overhanging risk onto the global oil stockbuilding, which we have seen being built up on a large scale since mid-2014. When the global oil supply no longer outstrips global oil demand and the refineries cannot take advantage of the low and volatile crude oil prices, they do not contribute to further stockbuilding.
The increase in global oil demand and eventual levelling out over supply of oil means we will stop building stocks. We may even begin to draw down on the swollen stocks. This in turn presents an outside risk to the oil product tanker market. However, we could also see the new stock levels become permanent and so the tanker demand will not be affected in this way. Only time will tell how the dynamics will play out”.
Source: BIMCO
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
|
|
|
Showing 2351 to 2355 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
|
| |
| |
|
