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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, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
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- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- The University of Queensland
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
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