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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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- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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