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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, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
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