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Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
 The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the operating costs of ships have gone down due to the lowered oil prices. The bunkering costs of very large crude carriers were around $40,000 per day, last year and presently, it has come down to around $20,000 per day. This has allowed in ships to reach more markets profitably than ever before.
The fall in global oil prices over the last one year has been beneficial to the shipping industry in more ways than one.
As some countries like China try to stockpile oil by taking advantage of the lower oil prices, the demand for oil tankers have picked up and the operating costs of ships have gone down. This has created expectations that the profits for the maritime industry would be good in 2015 and will have a positive effect on the shipping industry.
From a peak of $115 a barrel in June 2014, oil prices have dropped to around and even below $50 a barrel in recent times. This reduction in oil prices has resulted in nearly halving of bunkering costs for the shipping industry compared to last year and the demand for oil tankers has gone up.
The bunkering costs of very large crude carriers were around $40,000 per day last year and present, it has come down to around $20,000 per day. Bunkering costs are considered to be one of the major expenses of the shipping companies.
One metric ton of bunker fuel now costs about $270 which is less than half of what it cost when the price of oil was more than $100 a barrel. This has allowed in ships to reach more markets profitably than ever before. For example, some tankers carrying refined petroleum to European markets are not using the Suez Canal as a shortcut, but are sailing around Africa which allows them to stop at more ports.
The demand for tankers and ships are increasing as oil importing countries are trying to take advantage of the cheap oil prices. Countries like China, one the largest importer of crude oil, is stockpiling huge quantities of cheap oil so that it can benefit later when the prices of crude rise. Some other countries and companies are also following the same strategy as the market anticipates a recovery in the future oil price. This has resulted in a sharp increase in demand of super large oil tankers.
The daily rates of some of the largest oil tankers have been raised to as much as $90,000, far above the $10,000 a day it costs an owner, to pilot a ship laden with Mideastern crude to Asia. The same rates in 2012 and 2013 were about $25,000 a day.
Cheap oil also means that shipping of dry cargo is cheaper and global producers and manufacturers are utilizing this opportunity to ship more products. This has also raised the demand for the shipping industry.
Source: Literated | Hellenic Shipping News
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Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
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- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- The University of Queensland
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
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