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, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
|
|
|
Showing 3166 to 3170 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- VISA Power Limited - India
|
| |
| |
|
