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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, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
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