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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, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Planning Commission, India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
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