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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, 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.
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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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- Marubeni Corporation - India
- GMR Energy Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
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