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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, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
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Showing 1951 to 1955 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Australian Coal Association
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
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