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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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Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
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