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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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Showing 4971 to 4975 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
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