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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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Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
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- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
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- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
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- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
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- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
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- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
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- Kaltim Prima Coal - Indonesia
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- SMC Global Power, Philippines
- CNBM International Corporation - China
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- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
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