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