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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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Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
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Showing 1966 to 1970 news of total 6871 |
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- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
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