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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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Thursday, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
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