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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- PTC India Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
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