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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, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
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- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
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