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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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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Marubeni Corporation - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- The University of Queensland
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
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- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Australian Coal Association
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
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