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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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Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
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Showing 1986 to 1990 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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