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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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- Sojitz Corporation - Japan
- Parliament of New Zealand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
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