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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, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
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