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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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Tuesday, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
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