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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 $25,000 a day.
Cheap oil also means that shipping of dry cargo is cheaper and global producers and manufacturers are utilizing this opportunity to ship more products. This has also raised the demand for the shipping industry.
Source: Literated | Hellenic Shipping News
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Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
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- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
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- Orica Mining Services - Indonesia
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- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Planning Commission, India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
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