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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.
The 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.
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Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
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Showing 1931 to 1935 news of total 6871 |
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- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- White Energy Company Limited
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
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