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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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Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
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- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- The University of Queensland
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
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