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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- The University of Queensland
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
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