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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
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