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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, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Economic Council, Georgia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
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