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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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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
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