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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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Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
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- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- The University of Queensland
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
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