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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 $25,000 a day.
Cheap oil also means that shipping of dry cargo is cheaper and global producers and manufacturers are utilizing this opportunity to ship more products. This has also raised the demand for the shipping industry.
Source: Literated | Hellenic Shipping News
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Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- White Energy Company Limited
- The University of Queensland
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
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