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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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Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Australian Coal Association
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Minerals Council of Australia
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