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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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Thursday, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
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Showing 1996 to 2000 news of total 6871 |
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- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
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