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Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact for many in the industry. Shipowners will need to make tough decisions on how their vessels will comply with the new limit, charterers who buy fuel will need to know how it will economically affect them and seafarers will have the ultimate challenge of ensuring vessels continue to run safely and efficiently.
There are several options on how to comply with the sulphur cap. As well as the various fuel choices on offer, there are abatement technologies such as scrubbers EGCS (Exhaust Gas Cleaning Systems). A shipowner’s choice will depend on a number of factors and influencing the decision will be the inevitable gamble on what the availability and price of fuel will be post-2020. What will be certain is that there will be economic and commercial impacts.
Of course even shipowners in the offshore and deep sea oceangoing towage markets will also face similar concerns. Despite the fact that a large portion of the market was already burning distillates, the oceangoing long distance range tugs will face some very difficult economics and important decisions to make on how to comply with these stringent requirements. First class operators are also in certain cases not keen that the VLSMGO fuels are compatible and safe to use in particular tug engines. In general, there are several options available to a shipowner that will allow compliance with the 2020 global sulphur cap. There are pros and cons with each, as discussed extensively during 2019. Mostly concerning fuel availability, on-board fuel management, capital and operational expenditure as well as maintenance requirements. It is not a simple choice and the decision on what method of compliance is best depends on a number of factors, such as vessel type, trading area and remaining service life. The proportion of time spent within emission control areas (ECA) should be also considered together with the impact of changing over fuels when entering/leaving these areas. The 0.1% sulphur cap currently in operation within the ECAs will remain in force and it is possible that new ECAs may emerge in the coming years. For some vessels in particular, the best solution might be multi-fuel, such as having the ability to burn LNG or distillates, depending on the availability of each.
A number of producers have developed or are developing compliant products which are heavier than MGO and MDO but lighter than the residual fuel oils that are currently used. Some are specially-produced products and are commonly referred to as ‘hybrid’ fuels. Other products are the result of blending, producing a heavy distillate or light residual blend. It may be possible that a 0.5%S residual fuel (e.g. 380cst) could be produced from either refining sweet crudes or from sour crudes undergoing a desulphurization process. But there are currently no plans to make this widely available as a marine fuel.
In any case it is clear that the new landscape will take shape and form during the entire first semester of 2019. The first quarter of 2020 will indicate the new trends and the new overall status in the market, but I believe it will take at least 6 months or more till we get to understand the real new dynamics and status of options.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
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