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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
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