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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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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Australian Coal Association
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- London Commodity Brokers - England
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- The University of Queensland
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
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