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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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Friday, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
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