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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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- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
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