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.
|
|
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
|
|
|
Showing 3156 to 3160 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
|
| |
| |
|
