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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, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
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Showing 4461 to 4465 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
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