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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
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