We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
 The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within the Sulphur Emission Control Areas (SECAs) particularly established for the control and minimization of SOx and NOx emissions. As per MARPOL Annex VI new guidelines, vessels are obliged to burn bunkers with a maximum of 0.10% Sulphur content in the main, auxiliary engines and boilers, within the SECAs whereas up to December 2014, the Sulphur content limit was no more than 1.00%. The SECAs presently covers the North Ocean, Baltic Ocean, North American coastline and US Caribbean. Furthermore, existing EU Law already requires ships whilst in EU ports to use fuels with 0.1% Sulphur content while at berth, unless they use shore-side electricity.
In order for vessels to comply with the new requirements they need to switch to ultra-low Sulphur fuel types and currently the most viable option seems to be Low Sulphur Marine Gas Oil. The changeover from HFO to LSMGO sensibly poses technical and operational challenges as the two fuels operate at a different temperature, in addition to increased risk of thermal shocks to machinery, as well as the difference in viscosity that needs to be considered in order to avoid fuel pump failures. Vessels may also comply with the SOx/NOx restrictions with the use of Exhaust Gas Cleaning Systems that “clean” the emissions before released into the atmosphere though it should be noted that the installation costs remain substantial.
Furthermore, SOx emissions from shipping may also be controlled with the use of alternative fuels, LNG or bio-fuels. It is indicated that LNG use as a marine fuel remains cheaper than MGO and stands as a better choice in terms of reserve to production ratio. Its use to propel ships represents a “green” alternative, with 0% Sulphur content, while when ignited has nearly zero Oxide emissions. It does not affect the operational qualities of the vessel though specialized training for crew members is essential. Wartsila, Rolls Royce Marine, Mitsubishi and MAN are the main manufacturers of gas or dual fuel engines for ships. The technical, safety requirements and investment costs signify higher suitability for new-buildings. At present, the most immediate difficulty is the limited available infrastructure for bunkering the aforesaid vessels. Moreover, bio-fuels are an alternative to lower carbon concentration in the propulsion of ships. For instance, biodiesel and vegetable oils can be used partly in diesel engines or as an alternative for HFO consumption. However there is not sufficient practical experience and currently they are more expensive than oil products.
The employment of the new restrictions on how freight rates reflecting the new market criteria is yet to be integrated into charter-party agreements. The Worldscale Association published a fixed differential of $48.35 per mile to embody the cost of burning 0.1% Gasoil within the SECAs, compared to the 380 CST fuel oil grade delivered basis Rotterdam used to calculate Worldscale flat rates. Ship-Owners and brokers are incorporating new ways to negotiate the additional emerged costs into their charter contracts. The definition of these costs or which party should carry their burden, nevertheless still remains ambiguous.
To conclude with, the main industry debate is that of the ability of implementation of these new regulations rather than that of compliance. In essence, Owners need to evaluate any return on investment in new technology with the risks and remarkable increased costs of higher price of low-Sulphur fuel, but also the cost of technological failure caused by burning low-Sulphur fuel. In the longer term, the staging of compliance will most probably adjust to market conditions.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
|
|
|
Showing 3101 to 3105 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
|
| |
| |
|
