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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, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
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- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Parliament of New Zealand
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
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