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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, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
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- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
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