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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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Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
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- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
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