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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.
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Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- PTC India Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
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