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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, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- The University of Queensland
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
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