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Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
 The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the operating costs of ships have gone down due to the lowered oil prices. The bunkering costs of very large crude carriers were around $40,000 per day, last year and presently, it has come down to around $20,000 per day. This has allowed in ships to reach more markets profitably than ever before.
The fall in global oil prices over the last one year has been beneficial to the shipping industry in more ways than one.
As some countries like China try to stockpile oil by taking advantage of the lower oil prices, the demand for oil tankers have picked up and the operating costs of ships have gone down. This has created expectations that the profits for the maritime industry would be good in 2015 and will have a positive effect on the shipping industry.
From a peak of $115 a barrel in June 2014, oil prices have dropped to around and even below $50 a barrel in recent times. This reduction in oil prices has resulted in nearly halving of bunkering costs for the shipping industry compared to last year and the demand for oil tankers has gone up.
The bunkering costs of very large crude carriers were around $40,000 per day last year and present, it has come down to around $20,000 per day. Bunkering costs are considered to be one of the major expenses of the shipping companies.
One metric ton of bunker fuel now costs about $270 which is less than half of what it cost when the price of oil was more than $100 a barrel. This has allowed in ships to reach more markets profitably than ever before. For example, some tankers carrying refined petroleum to European markets are not using the Suez Canal as a shortcut, but are sailing around Africa which allows them to stop at more ports.
The demand for tankers and ships are increasing as oil importing countries are trying to take advantage of the cheap oil prices. Countries like China, one the largest importer of crude oil, is stockpiling huge quantities of cheap oil so that it can benefit later when the prices of crude rise. Some other countries and companies are also following the same strategy as the market anticipates a recovery in the future oil price. This has resulted in a sharp increase in demand of super large oil tankers.
The daily rates of some of the largest oil tankers have been raised to as much as $90,000, far above the $10,000 a day it costs an owner, to pilot a ship laden with Mideastern crude to Asia. The same rates in 2012 and 2013 were about $25,000 a day.
Cheap oil also means that shipping of dry cargo is cheaper and global producers and manufacturers are utilizing this opportunity to ship more products. This has also raised the demand for the shipping industry.
Source: Literated | Hellenic Shipping News
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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Australian Coal Association
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