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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, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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Showing 4311 to 4315 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
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