We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
 We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider the implications arising from the new fuel directives. 2020 seems to be the year that there will be a noticeable increase in the cost of moving cargo, with the forces driving costs upwards being either scrubbers and/or the increased demand for cleaner fuels.
The need for cleaner fuels will not only boost demand for product tankers though. Given the much higher crude oil quantities the production of these cleaner fuels requires compared to HFO, a boost in crude oil demand and a consequent support on crude tanker freight rates appears to also be in the cards.
The increase in fuel costs will definitely increase revenues but not profits. Therefore small owners with older, less efficient units, not capable of installing scrubbers, will be forced to either merge with larger companies, who have the cash flow to support financing, or in some cases will have to sell/ scrap and exit the industry. This filtering process will separate companies that managed to evolve and endure through the cycle and concurrently will correct the oversupply of tonnage, which drives rates in some cases well below their operating expenses today.
Vessels equipped with scrubbers or eco units will have a competitive advantage and owners will be able to fix periods at levels including a premium, as charterers will prefer to charter compliant and fuel efficient units. The market right now for a 1 year time charter, medium range non eco / non scrubber equipped tanker trading in clean petroleum products is around USD 13,000 per day. On the other hand, an eco/scrubber equipped unit would get approximately USD 14,500 - 15,000 per day for the same period.
We can identify that the difference of USD 1,500 - 2,000 per day is the premium charterers are paying in order to be 2020 compliant and have efficient units under their time charter. Apart from Ship owners/operators and charterers, it's also quite interesting to see how modern refineries are getting prepared for these changes. According to HSBC's research on IMO 2020, four of the most technically advanced refineries, S-oil, SK Innovation, Reliance Industries and Repsol are further upgrading and investing in their plants. They target to eliminate their HFO production by early to mid-2020. Specifically, SKI will focus on refining only very low sulphur fuel oil (VLSFO). The goal of these refineries is to find themselves in a position where, come 2020, they have substantially decreased– or even better entirely eliminated – the production of HFO.
Mr. T. Veniamis on behalf of the Union of Greek Ship Owners, stated that Greek ship owners are working hard to comply with the 2020 requirements (0.5% sulfur cap). He also stressed the importance that these cleaner fuels are – aside from compliant – also safe for both the crew and the ship itself. To conclude, the general sentiment particularly for Owners with units up to MR size without scrubbers, is to patiently wait and plan day by day, as the investment of installing scrubbers on older units may not make financial sense given today’s fundamentals.
By Dimitris Kourtesis
Tanker Chartering Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
|
|
|
Showing 1636 to 1640 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
|
| |
| |
|
