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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, 07 May 13
NEWCASTLE PORT'S COAL EXPORTS HOLD STEADY WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,975,160 tons of thermal and coking coal for week ended 0700 hours 6 May 2013, Newcastl ...
Monday, 06 May 13
INDONESIAN COAL PRICE REFERENCE FALLS CONTINUE
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $ 3.23 / MT in May 2013.
The monthly coal pr ...
Sunday, 05 May 13
SUB-BIT FOB INDONESIA COAL - MIXED TREND; API 8 CFR SOUTH CHINA COAL - POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.28 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 04 May 13
INDONESIA TO INDIA PANAMAX FREIGHT : FLAT TO SOFT - CAPT. REDDY
COALspot.com - The demand for iron ore picked up and its pushed up the cape size index by 7.86 pct. Cape index closed at 1,344 points. The BDI ...
Friday, 03 May 13
US PRODUCED 17.9 MILLION SHORT TONS (MMST) OF COAL IN A WEEK
COALspot.com - U.S. produced totaled approximately 17.9 million short tons (mmst) in a week (For the week ended April 27, 2013), EIA said in its lat ...
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- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Planning Commission, India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
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