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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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Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
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Showing 1916 to 1920 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Planning Commission, India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
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