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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, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
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