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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- MS Steel International - UAE
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
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