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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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Thursday, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- White Energy Company Limited
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
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