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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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Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
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