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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, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
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Showing 1106 to 1110 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
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