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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
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