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