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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, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
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