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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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Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
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Showing 1936 to 1940 news of total 6871 |
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- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Australian Coal Association
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
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