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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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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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