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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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Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
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