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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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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
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