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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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Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
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$ ...
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- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- PTC India Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
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