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.
|
|
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
|
|
|
Showing 3176 to 3180 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Planning Commission, India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- The University of Queensland
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
|
| |
| |
|
