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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
 At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality and safety were high on the agenda. Poor fuel quality is a problem which affects many stakeholders in the supply chain.
The contamination incident which occurred in the United States Gulf ports in the summer highlighted that biofuels are not properly catered for under the International Organization for Standardization (ISO) standard 8217. They fall, at best, under the stipulation that fuels should be fit for purpose. Numbers vary, but at least 100 ships were affected by their supplied biodiesel fuel which contained added substances, namely fatty acid methyl esters or FAME. In many cases, this adversely affected the performance of the machinery.
Biofuel contamination shares a commonality with fuel containing too many deliberately introduced catalytic (“cat”) fines – in both cases, the fuel supplied is unfit for use. In the case of cat fines, the fuel is known in advance to be unusable as supplied, whereas with biofuels, deficiencies only manifest in use. If fuels are unfit, in contravention to the requirements of MARPOL Annex 6, the validity of marine insurance cover may be called into question where ships are rendered unseaworthy.
IUMI believes that the current system of leaving the testing or damage to the end user is outdated. This approach has become unacceptable and must be changed. The motor and aviation sectors are positive examples of how the supply system works more effectively. Governments have agreed to compel the use of certain grades of fuel for ships; they should now equally recognise it is time to oblige the refineries to do the testing – not the end user. Traditionally, refiners have argued this can be done but will be more expensive. That rather old defence should be balanced against the cost of filtration systems and scrubbers across the world fleet, the cost of engine repairs, the increased risk of a consequent collision and pollution and by no means least, the cost of delay in deliveries.
There are potential third-party safety risks as the new blends of fuels have variable properties which are not standardised; they have different viscosity, flash points and pour points, meaning not only is performance unpredictable, they cannot be safely mixed with other new blends of fuels. The inevitable result will be more claims as a result of combustion problems.
If no remedial action is taken, there will be continued and growing expense, anticipated to be worse than the wave of cat fines claims after the SOx regulations of 2005. There could also be ensuing disruption to financial and social stability in a globally connected trade system where any delay has potentially significant consequences. As insurance will not automatically pay for the resultant damage, the cost will inevitably be passed via the owners and charterers to the voting consumer. IUMI would hope that IMO will encourage ISO to embark on the urgent amendment of the ISO 8217 legislation to deal with biofuels and indeed the 2020 sulphur cap.
Source: International Union of Marine Insurance
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Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Indogreen Group - Indonesia
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