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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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Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
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Showing 4461 to 4465 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
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