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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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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
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- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Planning Commission, India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
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