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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
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