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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 $25,000 a day.
Cheap oil also means that shipping of dry cargo is cheaper and global producers and manufacturers are utilizing this opportunity to ship more products. This has also raised the demand for the shipping industry.
Source: Literated | Hellenic Shipping News
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Tuesday, 08 September 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO SHOW DECLINING TREND
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Tuesday, 08 September 15
GANGAVARAM PORT IN INDIA DISCHARGES RECORD 112,599 MT OF STEAM COAL IN 24 HOURS
COALspot.com: Gangavaram Port, an all weather, multipurpose port with water depth up-to 21 meters, capable of handling fully laden Super Cap ...
Monday, 07 September 15
THE MINE OF THE FUTURE WILL HAVE ONLY TWO EMPLOYEES, A MAN AND A DOG - SCOTT MCGOWAN
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Scott Mcgowan, Director, Global ...
Monday, 07 September 15
FOB NEWCASTLE COAL SWAP FOR Q2' 16 DELIVERY CLOSED US CENTS 25 LOWER COMPARED TO Q4' 15
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.73 per MT (-1.68%) month over month to US$ 42.65 per mt. The sw ...
Monday, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
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Showing 2826 to 2830 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Central Java Power - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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