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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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Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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Showing 1906 to 1910 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Australian Coal Association
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
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