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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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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
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