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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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Showing 2406 to 2410 news of total 6871 |
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- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
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