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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, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- PTC India Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
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