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Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
 Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% sulphur will be imposed on marine fuel for vessels trading internationally. That was the headline finding of a new survey conducted by CE Delft on behalf of Exxonmobil.
The survey suggests that only 500 ships have been equipped with scrubbers. There has been something of a backlash against scrubber technology, most notably from Maersk and Klaveness, who have said they see the technology as being expensive and immature.
Lasse Kristoffersen, CEO at Torvald Klaveness, last year said scrubbers are a costly investment, costing between $2.0 and $4.0m, which can sometimes be greater than the value of the vessel itself.
Other respondents to the ExxonMobil survey said they were concerned that shipping companies would cheat and falsify the sulphur content of their marine fuel. Could this be a tacit admission that port states do not intend to or will not be able to enforce the 0.5% cap in their own waters?
Time is running out to solve these problems. A little over two years remains before the global cap is imposed and shipping companies have few options with which to comply with the new regulation.
Maersk has favoured using alternative fuels to installing scrubbers. It is likely that, rather than investing in abatement technologies, carriers will instead make an en-masse switch to 0.5% gasoil (or 0.5% fuel oil) come 2020. The International Energy Agency in 2015 estimated that around 2.2m bpd in maritime fuel demand would switch overnight to 0.5% gasoil. Separately, the International Bunker Industry Association (IBIA) has estimated the figure at 4.0m bpd.
This poses its own problems: what mix of fuels will be available in 2020 and at what cost for each type? Refiners have not been so forthcoming with information about what new capacity they are adding to deal with the expected rise in demand. If ship operators do switch to gasoil, they will have to compete with truck drivers and SUV owners to buy the fuel, which could drive up prices and possibly lead to shortages in supply.
Meanwhile, there will be a loophole for shipowners in 2020: vessels will be permitted to sail without compliant fuel if none is available, even if they do not have scrubbers installed.
On the other hand, perhaps we’re being too pessimistic. It remains possible that early adopters of scrubbers will have recouped all their outlay by 2020 if the retrofitted vessels have traded extensively in emission control areas before the cap enters into force. And if the price of distillate fuels rises significantly over the next 26 months, there could still be time for early adopters to make their money back.
Any additional costs that are incurred by using ultra-low-sulphur marine fuel (because it certainly won’t be any cheaper than HFO) will need to be shouldered ultimately by the shipper. If significant or volatile price differentials open up between gasoil and crude oil and fuel oil and crude oil, it will be all the more important to use hedging and bunker adjustment factors (BAF) wisely. This will mean that existing freight contracts (like COAs) and new long-term contracts that go beyond 2020 will need to accommodate this.
Although just over two years remain before the sulphur cap deadline, there are no easy answers as to how best to comply but shipping companies should start planning for tomorrow today.
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Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- The University of Queensland
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Planning Commission, India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
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