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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, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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Showing 4326 to 4330 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- The University of Queensland
- Australian Coal Association
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
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