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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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- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- The University of Queensland
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
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