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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
 A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up to $370 million a year, marking another blow for maritime companies already hit by fallout from the coronavirus.
The Panama Canal, one of world’s busiest shipping routes, which handled nearly 14,000 transits last year, said last month it would introduce a charge from Feb. 15 of $10,000 for any vessel more than 125 feet long.
The canal, which relies on water from nearby Gatun Lake, has been hit by drought which affects water levels in the chokepoint. The Panama Canal authority also said it would bring in a variable surcharge based on the level of Gatun Lake to ensure the canal has enough water.
The authority said the charges were a consequence of a lack of rainfall and said this was a short-term measure needed to tackle the impact of climate change.
The International Chamber of Shipping (ICS), which represents more than 80% of the global merchant fleet, said on Thursday it was surprised by the charge after working with the canal authority on a separate increase in tolls which is due to come into effect in April.
“The industry is currently facing increased price pressures globally, as demand has been hit hard by the coronavirus and markets are adjusting to the new regulations on sulphur levels,” ICS secretary general Guy Platten said, referring to new rules requiring ships to use cleaner fuel.
The coronavirus epidemic has upended supply chains and already disrupted shipping across the world leading to commercial losses for certain types of shipping, including container lines.
The industry is also having to pay billions of dollars in extra fuel costs due to the tough new sulphur emissions rules that started in January.
Platten said the global shipping sector was already operating “on the slimmest of margins”.
“ICS calculates that at current water levels the ‘freshwater charge’ alone could cost global shipping $230 million. In a worst case scenario this could be as high as $370 million per year,” he said.
“Cost hikes in this range, without sufficient warning, places undue pressure on the industry at a sensitive time when we are being asked to invest in a low emissions future,” Platten said. He urged the canal authority “to rethink the hasty introduction”.
Canal officials were not immediately available for comment.
A study last month estimated at least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050.
Source: Reuters (Additional reporting by Elida Moreno in Panama City and Diego Ore in Mexico City. Editing by Jane Merriman)
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
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