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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, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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Showing 2411 to 2415 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Mercator Lines Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
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