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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, 25 November 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT $ 49.55
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week.
The Q1 swap has lost US$ 0.12 (-0.24%) ...
Monday, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX i ...
Monday, 24 November 14
Q1 2015 FOB NEWCASTLE COAL SWAP CLOSED AT $ 52.73
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.73 on 21 November after losing US$ 0.40 (-0.75%) month ove ...
Monday, 24 November 14
CFR SOUTH CHINA COAL: Q2' 15 COAL SWAPS CLOSED LOWER COMPARED TO Q1' 15 SWAPS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 0.63 (-0.99%) month over month and US$ 0.12 (-0.19%) da ...
Sunday, 23 November 14
SPOT FREIGHT RATES IMPROVED SLIGHTLY OVER PREVIOUS WEEK
COALspot.com: The BDI was up 5.41 pct week on week and closed at 1,324 points on Friday. All the segments were up this week except Panamax index.&n ...
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Showing 3351 to 3355 news of total 6871 |
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- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
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