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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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Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
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Showing 1941 to 1945 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
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