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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- MS Steel International - UAE
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Australian Coal Association
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- The University of Queensland
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
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