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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
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