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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
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