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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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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
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