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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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Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- The Treasury - Australian Government
- Renaissance Capital - South Africa
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
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