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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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Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Australian Coal Association
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