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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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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
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