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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- The University of Queensland
- Economic Council, Georgia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- White Energy Company Limited
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
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