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Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
 In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as this factor is among the most important ones when it comes to ship owning operating costs. According to the company's projection, 2013 average bunker prices are expected to reach $690 per ton, while by 2017, bunker costs are forecast to average $760 per ton. During 2012, the basket of bunker prices reached an all-time high of almost $750 per ton in early March. "This was influenced by an upward spike in crude oil prices combined with robust demand for power generation from various countries. Although prices have since subsided, bunker prices are anticipated to rise in the coming years. This increase will be in line with higher crude oil prices, but also tighter supplies due to secondary capacity additions and changes to the international crude slate. Tanker earnings will continue to be pressured, which will encourage owners to explore methods to boost fuel efficiency" Mcquilling Services said.
It continued by explaining its methodology noting that "in our annual Tanker Market Outlook, McQuilling Services provides a bunker price forecast using the correlation between Dated Brent and the average bunker price. Dated Brent provides a more accurate gauge of international crude oil prices as it is not subject to the local logistical issues that affect the US benchmark WTI and it is considered the global oil price benchmark. In previous editions of the Tanker Market Outlook, we noted the correlation between Dated Brent and international bunker prices has shifted upwards as tighter specifications and refinery upgrades are reducing supplies. Between 1994 and 2007, the slope remained constant but started to steepen in 2008. This trend has continued into this year’s forecasting cycle.
The report added that "in our 2012 Tanker Market Outlook, we forecast that Dated Brent would average US $105 per barrel and bunker prices US $650 per ton. Year-to-date Dated Brent has been roughly US $111 per barrel or 3% above our forecast while bunkers averaged US $675 per ton, about 4% higher than projected. Going forward we see limited upward support for international crude oil prices as the global economy is expected to remain under pressure while supplies should remain relatively ample.
Global crude production should remain supported by the expectation that output in North America will increase throughout the forecast period. Saudi Arabia will continue to be the most influential swing supplier of OPEC nations while Russian production should also continue to hover around 10 million b/d. Political risks that could result in reduced production, especially in the Middle East and North Africa will remain present. Demand growth from non-OECD economies will stay healthy throughout the forecast period which will help absorb displaced barrels, in particular from the Caribbean, as a result of rising North American crude oil production. This will support ton-mile demand in particular for the larger tanker classes" it said.
Mcquilling Serviced concluded its argument by saying that "this year’s medium term forecast anticipates that bunker prices will rise slowly over the next three years. This range bound activity will be influenced by a rising share of natural gas consumption in both industrialized and developing nations that will provide some balance to market fundamentals. The rise in the latter part of the forecast period is the result of tighter bunker fuel specifications combined with the growth in sophistication of the global downstream industry".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- Bhatia International Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Anglo American - United Kingdom
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