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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
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