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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
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