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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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Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Minerals Council of Australia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
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