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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, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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Showing 4311 to 4315 news of total 6871 |
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- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
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