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