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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, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
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