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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, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
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- Videocon Industries ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
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