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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, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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Showing 2076 to 2080 news of total 6871 |
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- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
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