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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, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- White Energy Company Limited
- Planning Commission, India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- The University of Queensland
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
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