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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, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
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- Bulk Trading Sa - Switzerland
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- Kumho Petrochemical, South Korea
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- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
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- PTC India Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
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- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
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- Global Green Power PLC Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
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- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
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- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Minerals Council of Australia
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- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
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- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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