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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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- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
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