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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
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