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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, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Australian Coal Association
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
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