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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, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Sojitz Corporation - Japan
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