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