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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
 For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level stay put. Assuming a difference from the average of first half of 2014 at USD 578 for 380 cSt, High Sulphur Fuel Oil (HSFO) in Rotterdam, to a new level of USD 412, and a sailing time of 70%.
On an industry-wide scale, the drop have reduced the entire international shipping industry’s daily bunker cost by USD 117 million per day. Assuming an annual market for bunker fuels 257 million tons, bought at spot price and a drop in prices by USD 166 per mt on HSFO. Actually, it may be even slightly higher as prices for Marine Gas Oil (MGO) has slid USD 215 per mt, but no adjustment made for that.
Chief Shipping Analyst at BIMCO, Peter Sand, said:
“The drop in oil prices mirrors the disappointing development in the global GDP growth figures. Where we have seen one downward revision followed by another this year.
“Despite the lower prices, bunkers remain the single most significant cost item for owners and operators. For a Handymax in current markets using abt. 24 tonnes a day, bunker cost amount to USD 10,000, close to twice the amount spent on OPEX (abt. USD 5,500 per day).
“Slow steaming is expected to remain an integrated part of shipping going forward in spite of the falling prices, as bunker cost are still significant and so is overcapacity in the freight market.
“The fall in oil prices and a strong start to the winter season have spurred demand for tankers lifting earnings within all tanker segments considerably.
The unrest in the financial markets starting in Q3 and continuing into Q4 have sent the global oil prices down. Due to more than adequate supply and less than adequate demand.
Demand
side being the real trouble as the ongoing world economic recovery and keeps “postponing” the arrival of a sustainable global and regional economic growth level.
According to IEA: “Specific economic concerns regarding Europe, China and Russia act as a drag on the forecast, removing 0.4 mb/d from the 4Q14 estimate compared to last month’s Report [September], but year-on-year (y-o-y) growth still accelerates to 765 kb/d for 4Q14.
The upside from the slide in oil prices is lower costs of energy for all including the shipping industry, which welcomes lower bunker prices.
Going into the heating season in the northern hemisphere is it’s relevant to remember that money not spent on energy consumption, may boost private spending on other goods and by that lifting private consumption and helping the fragile recovery along.
1. During first half of 2014, average bunker fuel prices were: HSFO 578 per mt and MGO 911 per mt. For crude oil prices were: Brent 109 per barrel and WTI 101 per barrel.
2. Since mid-June, prices have known only one way and that has been down south.
3. According to Marine Bunker Exchange (MABUX), the current prices (20/11) are as follows:
HSFO 412 per mt, MGO 696 per mt, Brent 79 per barrel and WTI 76 per barrel.
The percentage fall have been respectively: 29%, 24%, 27% and 25%.
New data on key indicators sheds light on present, near-term and future shipping markets.
This news piece follows up on BIMCO market reports and comments to commercial developments for the three main shipping segments.
Source: BIMCO, Peter Sand
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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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