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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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Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
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- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Planning Commission, India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
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