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