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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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Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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Showing 2061 to 2065 news of total 6871 |
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- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
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