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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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Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
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Showing 1916 to 1920 news of total 6871 |
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- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
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