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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, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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Showing 4391 to 4395 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- The University of Queensland
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
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