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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
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