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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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Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
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