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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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Tuesday, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
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Showing 1946 to 1950 news of total 6871 |
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- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
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