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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, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Australian Coal Association
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
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