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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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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
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