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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 $25,000 a day.
Cheap oil also means that shipping of dry cargo is cheaper and global producers and manufacturers are utilizing this opportunity to ship more products. This has also raised the demand for the shipping industry.
Source: Literated | Hellenic Shipping News
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Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Australian Coal Association
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
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