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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, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
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