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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, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
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- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
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