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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
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Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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Showing 2356 to 2360 news of total 6871 |
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- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Planning Commission, India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
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