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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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Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
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