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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, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- Economic Council, Georgia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
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