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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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Showing 4451 to 4455 news of total 6871 |
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- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Planning Commission, India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- The University of Queensland
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
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