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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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Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
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- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
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