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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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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
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- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
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- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
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- Latin American Coal - Colombia
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- IEA Clean Coal Centre - UK
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- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
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- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
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- Commonwealth Bank - Australia
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- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
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