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.
|
|
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
|
|
|
Showing 3116 to 3120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
|
| |
| |
|
