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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the world, imposing the burning of cleaner marine fuels and thus turning the shipping industry into one with a much lower environmental impact. According to the latest weekly report from shipbroker Gibson, bunker prices have fluctuated more than two fold in the last five years. "The average price of 380cst this year to date hovers around $635 pmt. The impact of bunker fuels on operational costs is substantial and has caused considerable damage to ship owner’s profitability. However with even tougher regulations and emission targets on the way, how will these changes affect the shipping industry?" asks Gibson.
The shipbroker notes that "as seaborne trade continues to grow, shipping plays a larger part in adding to the world’s ‘greenhouse gases’. Following political pressure to further reduce emissions from shipping , a new set of sulphur requirements within MARPOL Annex VI will be implemented on the 1st January 2015. Permissible sulphur levels in bunker fuel will be capped at 0.10%, from the current maximum of 1.0% within existing Emission Control Areas (ECA).
Although the European bunker market handled previous reductions in sulphur limits much better than expected, a common view is that the same cannot be envisaged in 2015; the UK Chamber of Shipping has said “shipping needs more time to prepare [before the 2015 cap]”, adding that neither time nor sufficient techhnology is currently available to support the changes. The shift in 2015 will mean most ships will use marine gas oil (MGO) while operating in ECAs, instead of heavy fuel oil. The premium of MGO over 1.0% LSFO 380 currrently stands at around 40% in Rotterdam. Although the price of this fuel is hard to project to 2015, it is expected that supply may not grow as quickly as demand and will therefore command an even higher premium during the initial stages after the 2015 inauguration. The increase in products available for export from the USS (see Gibson’s WTR - 15th Mar 2013) could offer the solution to lacking supplies, butt the natio n itself will need morre MGO too meet their own neww ECA requuirements. As various countries in the world compete for global supplies of sub 0.10% fuels, this could provide a boost for the MR tanker market" Gibson said.
It concluded by stating that "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. Lack of investment in Europe’s refining sector suggests it is highly unlikely there will be sufficient availability of low sulphur fuel oil to meet this requirement. The use of new technnologies - like scrubbers and LNG as the main fuel for propulsion -to meet the strict sulphur regulations may offer ship owners an alternative, but the shipping community needs to push the development of such technologies to capitalise on their potential and make them a commercially viable solution. Whilst there is huge uncertainty surrounding the scale of impact the new fuel regulations will have on the shipping industry, it appears the only certainty is that this issue is not going to go away anytime soon", Gibson said.
Meanwhile, in the crude tanker markets this week, in the Middle East, it was an "active week for VLCCs as charterers closed the book on March liftings, and started to tuck in heartily to the April programme. Owners managed to extract some advantage, but it was to a minimal extent, and any hopes for the market reaching critical mass seem rather faint. Rates topped out at WS 37.55 to the East and WS 19 to the West. Suezmaxes found only spasmodic action, and the lack of consistency, and plentiful availability, kept things pegged to around WS 30 West and WS 55 East for the duration. Next week looks set to stay rangebound too. Aframaxes tightened on early positions, allowing rates to creep to 80,000 by WS 85 to Singapore, but will stay at closer to WS 80 deeper into April" Gibson said.
In the North Sea, "as in the Med, the search for replacement tonnage gave Aframax Owners -and rates - a boost to 80,000 by WS 100+ cross UK Cont, and 100,000 by WS 100 also from the Baltic. By the weeks' end, however, Charterers immediate needs seemed satisfied, and owners moved once again onto the defensive. Suezmaxes got the odd knock, but no surprises...135,000 by WS 45 was seen transatlantic for no heat, and US$ 22.7 million paid to Singapore, also without heating costs. VLCCs weren’t left out either, but still slipped lower with a couple of deals reported at US$ 3.8 million for Fuel Oil to Singapore, despite the patchy availability" the London-based shipbroker said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 25 June 13
NEWCASTLE PORT SHIPPED OUT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,101,378 tons of coal for the week ended 0700 hours 24 June 2013, Newcastle Port Corp. ...
Monday, 24 June 13
INDONESIA COAL SWAP FOR AUGUST 2013 DELIVERY GAINS WEEK ON WEEK
COALspot.com – Coal prices for immediate supply contracts have started moving up, but prices for next year supply shows a negative trend ...
Sunday, 23 June 13
BDI CROSSED ITS PSYCHOLOGICAL BARRIER THIS WEEK - VISTAAR
COALspot.com : The BDI crossed the psychological barrier of 1000 points after many months and closed at 1,027 points, which were up by 14.11 pct wee ...
Sunday, 23 June 13
SHIP PRICES NOT FOLLOWING FREIGHT MARKET FUNDAMENTALS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, i ...
Friday, 21 June 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 19.70 million short tons (mmst) of ...
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- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- The University of Queensland
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
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