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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, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
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