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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, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
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