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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, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Planning Commission, India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
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