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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, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
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