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Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
 2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% sulphur cap on shipping emissions by 2020. This ruling applies to ships worldwide, and ships will have to ensure that the use of fuel oil on board meets the new sulphur content requirement. The current limit is set at 3.5% and shipowners will have more than 3 years to reduce the marine Sulphur usage by 7 times below current limits.
The Sulphur cap aims to provide a significant benefit to the environment and human health, particularly near port cities and coastal communities. Newer ships with advanced fuel options are being built, however older ships will have to choose between paying more for fuel and installing equipment to reduce emissions. Main engines, auxiliary engines and boilers are all considered areas of fuel usage on board ships.
Today, there are different blends of low sulphur fuel in different geographical locations and compatibility of these is still questioned. However, taking into account today’s bunker prices, using the low sulphur fuel poses a $200/tonne extra cost. The use of exhaust gas cleaning systems known as “Scrubbers” is the only solution for vessels to comply with gas emissions and allow them to continue using their normal fuel. Estimated cost of installing scrubbers on existing ships ranges from $ 1.3 million and can reach levels exceeding $ 3.0 million on larger and more demanding ships needing extensive funnel and steel modifications. Even so, scrubbers are not totally eco-friendly. Current systems involve either wet exhaust Vs dry exhaust or open loop vs closed loop technologies. In cases of closed loop and wet exhaust systems the collection of the particulates and the proper ecological disposal of same has to be addressed. This is another product that will have a disposal cost which, significant or not, still poses an additional running cost.
The biggest concern that may also be a game changer in our industry is that today and most likely by 2020 there is the possibility for existing refinery capacity proving inadequate to meet demand for clean fuel. Capacity is one question and geographical location is another. New refineries will need to be created with more capacity, also in more strategic locations and we see a major logistical undertaking for all links in the bunker supply chain. This need may impose new trade routes for product tankers and increased demand for these will benefit freight rates. Many countries say that 2020 is too soon and propose 2025 as a safer implementation date. However the decision of switching to more expensive fuel vs installing scrubbers is the result of the following formula; Daily Consumption X Extra $200/tonne X Years of projected operation of the vessel. If the ship has few years left until the end of its life, and if its second-hand price over its scrap price is marginally close to the cost of installing scrubbers then there is a greater possibility that she will be scrapped. This applies to all ship types and may lead to a mass exodus… towards the beaches. Supply of tonnage will be reduced giving freight rates a serious boost.
So in 2020, the 0.5% sulphur regulation together with the implementation of the Water Ballast Treatment convention will present two major costs that will dictate who goes to the beach and who is destined for more voyages ahead…!!!
“20/20 Vision” will be needed in our ship investments going forward with the pre-mentioned issues being the determining factor for the age of the asset one invests in today.
By John N. Cotzias
SnP Broker
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
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