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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, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- PTC India Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
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