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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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Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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Showing 4396 to 4400 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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