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Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% sulphur restriction, in line with the Baltic and North Sea Emission Control Areas (ECAs). According to London-based shipbrokers Gibson, this change is expected to have a significant impact on shipping. “The sulphur level in all ECAs is due to be further reduced to a 0.1% sulphur fuel limit from January 2015, which again is likely to have a major impact. Beyond this, the next major issue is the proposed IMO legislation shifting all bunkers to less than 0.5% sulphur, due to be introduced globally in 2020. However, it is highly unlikely that there will be sufficient availability of low sulphur fuel oil to meet this requirement by 2020 and the IMOs review process planned for 2018 is almost certain to delay the introduction of this low sulphur requirement until 2025.
At this time the reduction could leave owners with the decision to effectively rule out the use of all residual fuel, switching to low sulphur fuels such as distillate (with even LNG being discussed). However, the use of new technologies like scrubbers to meet the strict sulphur regulations may offer an alternative, although pilot projects suggest that current solutions may not yet be commercially viable. Nonetheless, with low sulphur prices as much as $80/tonne above high sulphur earlier this year, there could be a strong economic incentive to push these new technologies forward. Whilst there is huge uncertainty surrounding the scale of impact on shipping, it appears the only certainty is that this issue is not going to go away” said Gibson in its latest weekly report.
It’s worth noting that when the IMO (MARPOL Annex VI) capped today’s level of allowed sulphur content in marine fuels at 4.5% in 2005, the impact on bunker fuel availability was limited as few cases of heavy fuel oil (HFO) exceeded this sulphur cap. Gibson also mentioned that “following political pressure to further reduce sulphur emissions from shipping, a new set of sulphur requirements within MARPOL Annex VI are going to be implemented through the timetable outlined below. The next step will be introduced on 1st January 2012, when the global sulphur cap will be reduced to 3.5%. Whilst this may cause some tightness in availability at Fujairah and some Far East locations, it again appears manageable and likely to have only a limited impact” said Gibson.
In market news this week, the shipbroker’s report noted that “just as VLCC Owners in the Middle East Gulf had believed that they had handcuffed Charterers to the high WS 60’s East - and perhaps could pull them even higher, a short gap in the cargo flow quickly translated into nervousness, and rates fell by up to 10 worldscale points to end the week as low as WS 58.5 East and WS 38 West. That just about wraps up the First half December programme, so owners will have to hope that the total monthly volumes get close to those of November, which would then lead to the necessary tightness for another rebound/spike” said Gibson.
It went to mention that “Suezmaxes saw some extra potential interest as Charterers investigated splitting VLCC stems, but the softening in that sector pulled that plug, and levels couldn’t move much above 130,000 by WS 85 East and WS 52.5 West. Aframaxes got a bit busier, and rates moved up to around 80,000 by WS 117.5 accordingly.
Higher levels aren’t looking likely, but there should be enough to keep things steady over the near term. Suezmaxes in West Africa did, initially, enjoy reasonable pre-Thanksgiving attention, but yet again, Owners failed miserably to glean any advantage. Rates ticked over in the low/mid WS 70’s for all destinations, and although one early position did post a WS 80+ level, that was not achievable on the more populous forward dates. VLCCs relied upon Eastern movements for any employment, and found just enough to keep rates stable at WS 60/62.5 East with around USD 3.8 mill the mark for West Coast India.
The Caribbean became necessarily compromised by the U.S. holiday, but had previously maintained last weeks' gain to 70,000 by WS 122.5 upcoast, though the extended break is likely to re-set things a little lower for the start of the next campaign. VLCCs generally kept steady, but there were signs of just a little slippage with USD 3.95 m reported for a Caribbean/Singapore run late-week. No free-fall likely, however. A very non-descript scene in the Mediterranean for aframaxes. Not enough enquiry to tighten the rope, and rates stayed soggy at down to 80,000 by WS 82.5 cross-Mediterranean all week, with another soft period likely. Suezmaxes also couldn’t muster sufficient ammunition to blast their way out of their box, and rates moved little better than 135,000 by WS 72.5 from the Black Sea with even a spell of bad weather failing to have a positive impact. Little early rate change likely” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- White Energy Company Limited
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- ASAPP Information Group - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
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