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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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Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
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- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Indian Energy Exchange, India
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