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Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
 Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% sulphur will be imposed on marine fuel for vessels trading internationally. That was the headline finding of a new survey conducted by CE Delft on behalf of Exxonmobil.
The survey suggests that only 500 ships have been equipped with scrubbers. There has been something of a backlash against scrubber technology, most notably from Maersk and Klaveness, who have said they see the technology as being expensive and immature.
Lasse Kristoffersen, CEO at Torvald Klaveness, last year said scrubbers are a costly investment, costing between $2.0 and $4.0m, which can sometimes be greater than the value of the vessel itself.
Other respondents to the ExxonMobil survey said they were concerned that shipping companies would cheat and falsify the sulphur content of their marine fuel. Could this be a tacit admission that port states do not intend to or will not be able to enforce the 0.5% cap in their own waters?
Time is running out to solve these problems. A little over two years remains before the global cap is imposed and shipping companies have few options with which to comply with the new regulation.
Maersk has favoured using alternative fuels to installing scrubbers. It is likely that, rather than investing in abatement technologies, carriers will instead make an en-masse switch to 0.5% gasoil (or 0.5% fuel oil) come 2020. The International Energy Agency in 2015 estimated that around 2.2m bpd in maritime fuel demand would switch overnight to 0.5% gasoil. Separately, the International Bunker Industry Association (IBIA) has estimated the figure at 4.0m bpd.
This poses its own problems: what mix of fuels will be available in 2020 and at what cost for each type? Refiners have not been so forthcoming with information about what new capacity they are adding to deal with the expected rise in demand. If ship operators do switch to gasoil, they will have to compete with truck drivers and SUV owners to buy the fuel, which could drive up prices and possibly lead to shortages in supply.
Meanwhile, there will be a loophole for shipowners in 2020: vessels will be permitted to sail without compliant fuel if none is available, even if they do not have scrubbers installed.
On the other hand, perhaps we’re being too pessimistic. It remains possible that early adopters of scrubbers will have recouped all their outlay by 2020 if the retrofitted vessels have traded extensively in emission control areas before the cap enters into force. And if the price of distillate fuels rises significantly over the next 26 months, there could still be time for early adopters to make their money back.
Any additional costs that are incurred by using ultra-low-sulphur marine fuel (because it certainly won’t be any cheaper than HFO) will need to be shouldered ultimately by the shipper. If significant or volatile price differentials open up between gasoil and crude oil and fuel oil and crude oil, it will be all the more important to use hedging and bunker adjustment factors (BAF) wisely. This will mean that existing freight contracts (like COAs) and new long-term contracts that go beyond 2020 will need to accommodate this.
Although just over two years remain before the sulphur cap deadline, there are no easy answers as to how best to comply but shipping companies should start planning for tomorrow today.
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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Minerals Council of Australia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
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