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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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- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Australian Coal Association
- The University of Queensland
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
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