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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
 IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
Press Release: The vast majority of ships in the German fleet will run on the new sulphur-reduced fuel (Low Sulphur Fuel Oil, LSFO) from 1 January at the latest. This is one of the findings of a survey conducted by the German Shipowners’ Association (Verband Deutscher Reeder, VDR) among its member companies. While the body of data obtained through the survey is not representative of the German shipping industry as a whole, it does reflect views that can certainly be extrapolated since the respondents include shipping companies from every sector of the German shipping industry.
The survey was conducted against the backdrop of one of the biggest changes occurring in the shipping sector, a change that will take effect just over a month from now: following a decision by the International Maritime Organisation (IMO), a subsidiary organisation of the United Nations, ships around the world may only use fuel with a sulphur content of no more than 0.5 per cent. The standard currently in force sets the maximum limit for the sulphur content in maritime fuels at 3.5 per cent.
There are essentially three options available to shipping companies during the changeover. According to the survey, 81 per cent of the companies surveyed will be using LSFO with a sulphur content of 0.5% in the future. Eleven per cent will continue to use Heavy Fuel Oil (HFO). This is expressly permitted under the IMO rules, provided that exhaust gas purification systems, so-called scrubbers, are installed on the ships. Six per cent of respondents indicated that they will be using other fuels, such as those prescribed already since 2015 for Emission Control Areas in the North Sea and the Baltic Sea – fuels with an even lower sulphur content of 0.1 per cent. Two per cent of the ships in the German fleet will already be operated using LNG after 2020, according to the survey. “Germany’s maritime industry has carefully prepared for this enormous change. It ushers in a new era in maritime shipping, signalling the end of heavy fuel oil. We support this change and are implementing it – and in doing so, we are making an impressive contribution to long-term environmental protection,” said Ralf Nagel, CEO of the VDR.
The greatest challenge looming as part of the changeover according to the companies surveyed will be technical problems encountered during operations in the future, as well as the cost of the new fuel, and the issue of cost compensation by third parties, in particular customers. German shipping companies are also concerned about the question of availability. “There are many who fear that the new fuels could cause technical problems during operation – problems that could also have financial consequences,” said Nagel: “We therefore call on all stakeholders to be as committed and flexible as possible in preparing for the changeover, to ensure that it will become a success story.”
According to the survey, the one-off investment expenditure for companies in the lead-up to the changeover averaged € 7.5 million per shipping company. Ralf Nagel: “Considering that more than two thirds of the shipping companies in Germany are medium-sized and operate fewer than ten ships, we realise just how great the financial effort was that the individual companies had to make in preparing for the changeover.”
Moreover, the additional annual costs now facing companies would make IMO2020 probably the most elaborate regulatory measure ever implemented by the shipping industry. “Companies are particularly concerned about the fact that they will have to bear considerable additional costs in their ongoing operations in the future, and that possible compensation for these added costs by third parties, in particular customers, may not work as envisaged.”
“Of enormous importance for us is the fact that this is a worldwide regulation, one that everybody is compelled to implement. This demonstrates that the IMO is a body that is capable of taking effective action to regulate shipping worldwide. The IMO should therefore play the key role when it comes to climate protection as well. In contrast, separate regional solutions, for example in the EU, should be avoided. Their effect would be to distort competition, and ultimately they would not have a sustainable impact on the climate,” said Ralf Nagel.
With regard to the new sulphur regulation, the VDR called for effective controls by the respective port states. Nagel: “We will be relying on worldwide controls to monitor the implementation of the new regulation, so that no one can gain a prohibited competitive advantage At the same time, however, we are confident that the flag states and also the customers of the shipping companies have a great interest in ensuring that the new rules are actually complied with.”
About the German Shipowners‘ Association
The German Shipowners' Association (Verband Deutscher Reeder, VDR) is responsible for representing the common business and social policy interests of German shipping companies at federal and state government level as well as in relation to European and international bodies. The VDR was established in 1907, and in 1994 it merged with the Association of German Coastal Shipowners. With a membership of around 200, the VDR represents the majority of Germany’s merchant fleet. Further particulars are available at www.reederverband.de/en.html.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
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