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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, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
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- Australian Coal Association
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Planning Commission, India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
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