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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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- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
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