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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, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
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