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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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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Showing 2041 to 2045 news of total 6871 |
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- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Planning Commission, India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
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