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Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% sulphur restriction, in line with the Baltic and North Sea Emission Control Areas (ECAs). According to London-based shipbrokers Gibson, this change is expected to have a significant impact on shipping. “The sulphur level in all ECAs is due to be further reduced to a 0.1% sulphur fuel limit from January 2015, which again is likely to have a major impact. Beyond this, the next major issue is the proposed IMO legislation shifting all bunkers to less than 0.5% sulphur, due to be introduced globally in 2020. However, it is highly unlikely that there will be sufficient availability of low sulphur fuel oil to meet this requirement by 2020 and the IMOs review process planned for 2018 is almost certain to delay the introduction of this low sulphur requirement until 2025.
At this time the reduction could leave owners with the decision to effectively rule out the use of all residual fuel, switching to low sulphur fuels such as distillate (with even LNG being discussed). However, the use of new technologies like scrubbers to meet the strict sulphur regulations may offer an alternative, although pilot projects suggest that current solutions may not yet be commercially viable. Nonetheless, with low sulphur prices as much as $80/tonne above high sulphur earlier this year, there could be a strong economic incentive to push these new technologies forward. Whilst there is huge uncertainty surrounding the scale of impact on shipping, it appears the only certainty is that this issue is not going to go away” said Gibson in its latest weekly report.
It’s worth noting that when the IMO (MARPOL Annex VI) capped today’s level of allowed sulphur content in marine fuels at 4.5% in 2005, the impact on bunker fuel availability was limited as few cases of heavy fuel oil (HFO) exceeded this sulphur cap. Gibson also mentioned that “following political pressure to further reduce sulphur emissions from shipping, a new set of sulphur requirements within MARPOL Annex VI are going to be implemented through the timetable outlined below. The next step will be introduced on 1st January 2012, when the global sulphur cap will be reduced to 3.5%. Whilst this may cause some tightness in availability at Fujairah and some Far East locations, it again appears manageable and likely to have only a limited impact” said Gibson.
In market news this week, the shipbroker’s report noted that “just as VLCC Owners in the Middle East Gulf had believed that they had handcuffed Charterers to the high WS 60’s East - and perhaps could pull them even higher, a short gap in the cargo flow quickly translated into nervousness, and rates fell by up to 10 worldscale points to end the week as low as WS 58.5 East and WS 38 West. That just about wraps up the First half December programme, so owners will have to hope that the total monthly volumes get close to those of November, which would then lead to the necessary tightness for another rebound/spike” said Gibson.
It went to mention that “Suezmaxes saw some extra potential interest as Charterers investigated splitting VLCC stems, but the softening in that sector pulled that plug, and levels couldn’t move much above 130,000 by WS 85 East and WS 52.5 West. Aframaxes got a bit busier, and rates moved up to around 80,000 by WS 117.5 accordingly.
Higher levels aren’t looking likely, but there should be enough to keep things steady over the near term. Suezmaxes in West Africa did, initially, enjoy reasonable pre-Thanksgiving attention, but yet again, Owners failed miserably to glean any advantage. Rates ticked over in the low/mid WS 70’s for all destinations, and although one early position did post a WS 80+ level, that was not achievable on the more populous forward dates. VLCCs relied upon Eastern movements for any employment, and found just enough to keep rates stable at WS 60/62.5 East with around USD 3.8 mill the mark for West Coast India.
The Caribbean became necessarily compromised by the U.S. holiday, but had previously maintained last weeks' gain to 70,000 by WS 122.5 upcoast, though the extended break is likely to re-set things a little lower for the start of the next campaign. VLCCs generally kept steady, but there were signs of just a little slippage with USD 3.95 m reported for a Caribbean/Singapore run late-week. No free-fall likely, however. A very non-descript scene in the Mediterranean for aframaxes. Not enough enquiry to tighten the rope, and rates stayed soggy at down to 80,000 by WS 82.5 cross-Mediterranean all week, with another soft period likely. Suezmaxes also couldn’t muster sufficient ammunition to blast their way out of their box, and rates moved little better than 135,000 by WS 72.5 from the Black Sea with even a spell of bad weather failing to have a positive impact. Little early rate change likely” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
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