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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, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
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