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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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Friday, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- White Energy Company Limited
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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