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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, 23 April 13
INDONESIAN STATE OWNED COAL MINER SHIPPED 4 PERCENT MORE COAL IN 1Q
COALspot.com - PT. Bukit Asam, the Indonesian state owned coal miner shipped more coal in first quarter of this year compared to the same period in ...
Tuesday, 23 April 13
REALM CONTINUES AS 51% OWNER AND MANAGER OF THE KATINGAN RIA THERMAL COAL PROJECT
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced today that, the commercial way forward for the development of its 51% held Indonesian t ...
Tuesday, 23 April 13
TIGERS REALM COAL HAS SOME OF THE WORLD'S BEST UNDEVELOPED COKING COAL ASSETS - EXECUTIVE CHAIRMAN
COALspot.com - “ During 2012, your Company has made very significant progress towards meeting its stated objective of becoming a global player ...
Tuesday, 23 April 13
AUSTRALIA'S NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 4.38 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,434,336 tons of thermal and coking coal for week ended 0700 hours 22 April 2013, Newca ...
Sunday, 21 April 13
INDONESIA - INDIA COAL FREIGHT RATES ARE FIRMING UP - CAPT. REDDY
COALspot.com – The BDI was up by 1.40 pct closed at 888 points week ended 19 April 2013. The Cape index was down by 2.45 pct closing at 1234 p ...
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- White Energy Company Limited
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
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