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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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Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
COALspot.com: We attended the 19th Annual Coaltrans Asia Conference, where we found most of the speakers were not very optimistic on the outlook for ...
Tuesday, 11 June 13
NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
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- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- The University of Queensland
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
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