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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, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
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- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- PTC India Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
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- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
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- Commonwealth Bank - Australia
- Eastern Coal Council - USA
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- Deloitte Consulting - India
- Mercator Lines Limited - India
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- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
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- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
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- AsiaOL BioFuels Corp., Philippines
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- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
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- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
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- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
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