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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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Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
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Showing 1901 to 1905 news of total 6871 |
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- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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