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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
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