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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, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- MS Steel International - UAE
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Australian Coal Association
- The University of Queensland
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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