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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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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Showing 2091 to 2095 news of total 6871 |
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- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
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