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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
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