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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the world, imposing the burning of cleaner marine fuels and thus turning the shipping industry into one with a much lower environmental impact. According to the latest weekly report from shipbroker Gibson, bunker prices have fluctuated more than two fold in the last five years. "The average price of 380cst this year to date hovers around $635 pmt. The impact of bunker fuels on operational costs is substantial and has caused considerable damage to ship owner’s profitability. However with even tougher regulations and emission targets on the way, how will these changes affect the shipping industry?" asks Gibson.
The shipbroker notes that "as seaborne trade continues to grow, shipping plays a larger part in adding to the world’s ‘greenhouse gases’. Following political pressure to further reduce emissions from shipping , a new set of sulphur requirements within MARPOL Annex VI will be implemented on the 1st January 2015. Permissible sulphur levels in bunker fuel will be capped at 0.10%, from the current maximum of 1.0% within existing Emission Control Areas (ECA).
Although the European bunker market handled previous reductions in sulphur limits much better than expected, a common view is that the same cannot be envisaged in 2015; the UK Chamber of Shipping has said “shipping needs more time to prepare [before the 2015 cap]”, adding that neither time nor sufficient techhnology is currently available to support the changes. The shift in 2015 will mean most ships will use marine gas oil (MGO) while operating in ECAs, instead of heavy fuel oil. The premium of MGO over 1.0% LSFO 380 currrently stands at around 40% in Rotterdam. Although the price of this fuel is hard to project to 2015, it is expected that supply may not grow as quickly as demand and will therefore command an even higher premium during the initial stages after the 2015 inauguration. The increase in products available for export from the USS (see Gibson’s WTR - 15th Mar 2013) could offer the solution to lacking supplies, butt the natio n itself will need morre MGO too meet their own neww ECA requuirements. As various countries in the world compete for global supplies of sub 0.10% fuels, this could provide a boost for the MR tanker market" Gibson said.
It concluded by stating that "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. Lack of investment in Europe’s refining sector suggests it is highly unlikely there will be sufficient availability of low sulphur fuel oil to meet this requirement. The use of new technnologies - like scrubbers and LNG as the main fuel for propulsion -to meet the strict sulphur regulations may offer ship owners an alternative, but the shipping community needs to push the development of such technologies to capitalise on their potential and make them a commercially viable solution. Whilst there is huge uncertainty surrounding the scale of impact the new fuel regulations will have on the shipping industry, it appears the only certainty is that this issue is not going to go away anytime soon", Gibson said.
Meanwhile, in the crude tanker markets this week, in the Middle East, it was an "active week for VLCCs as charterers closed the book on March liftings, and started to tuck in heartily to the April programme. Owners managed to extract some advantage, but it was to a minimal extent, and any hopes for the market reaching critical mass seem rather faint. Rates topped out at WS 37.55 to the East and WS 19 to the West. Suezmaxes found only spasmodic action, and the lack of consistency, and plentiful availability, kept things pegged to around WS 30 West and WS 55 East for the duration. Next week looks set to stay rangebound too. Aframaxes tightened on early positions, allowing rates to creep to 80,000 by WS 85 to Singapore, but will stay at closer to WS 80 deeper into April" Gibson said.
In the North Sea, "as in the Med, the search for replacement tonnage gave Aframax Owners -and rates - a boost to 80,000 by WS 100+ cross UK Cont, and 100,000 by WS 100 also from the Baltic. By the weeks' end, however, Charterers immediate needs seemed satisfied, and owners moved once again onto the defensive. Suezmaxes got the odd knock, but no surprises...135,000 by WS 45 was seen transatlantic for no heat, and US$ 22.7 million paid to Singapore, also without heating costs. VLCCs weren’t left out either, but still slipped lower with a couple of deals reported at US$ 3.8 million for Fuel Oil to Singapore, despite the patchy availability" the London-based shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- ASAPP Information Group - India
- PTC India Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
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