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