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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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Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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Showing 1216 to 1220 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
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