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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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Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Parliament of New Zealand
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
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