We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
 We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider the implications arising from the new fuel directives. 2020 seems to be the year that there will be a noticeable increase in the cost of moving cargo, with the forces driving costs upwards being either scrubbers and/or the increased demand for cleaner fuels.
The need for cleaner fuels will not only boost demand for product tankers though. Given the much higher crude oil quantities the production of these cleaner fuels requires compared to HFO, a boost in crude oil demand and a consequent support on crude tanker freight rates appears to also be in the cards.
The increase in fuel costs will definitely increase revenues but not profits. Therefore small owners with older, less efficient units, not capable of installing scrubbers, will be forced to either merge with larger companies, who have the cash flow to support financing, or in some cases will have to sell/ scrap and exit the industry. This filtering process will separate companies that managed to evolve and endure through the cycle and concurrently will correct the oversupply of tonnage, which drives rates in some cases well below their operating expenses today.
Vessels equipped with scrubbers or eco units will have a competitive advantage and owners will be able to fix periods at levels including a premium, as charterers will prefer to charter compliant and fuel efficient units. The market right now for a 1 year time charter, medium range non eco / non scrubber equipped tanker trading in clean petroleum products is around USD 13,000 per day. On the other hand, an eco/scrubber equipped unit would get approximately USD 14,500 - 15,000 per day for the same period.
We can identify that the difference of USD 1,500 - 2,000 per day is the premium charterers are paying in order to be 2020 compliant and have efficient units under their time charter. Apart from Ship owners/operators and charterers, it's also quite interesting to see how modern refineries are getting prepared for these changes. According to HSBC's research on IMO 2020, four of the most technically advanced refineries, S-oil, SK Innovation, Reliance Industries and Repsol are further upgrading and investing in their plants. They target to eliminate their HFO production by early to mid-2020. Specifically, SKI will focus on refining only very low sulphur fuel oil (VLSFO). The goal of these refineries is to find themselves in a position where, come 2020, they have substantially decreased– or even better entirely eliminated – the production of HFO.
Mr. T. Veniamis on behalf of the Union of Greek Ship Owners, stated that Greek ship owners are working hard to comply with the 2020 requirements (0.5% sulfur cap). He also stressed the importance that these cleaner fuels are – aside from compliant – also safe for both the crew and the ship itself. To conclude, the general sentiment particularly for Owners with units up to MR size without scrubbers, is to patiently wait and plan day by day, as the investment of installing scrubbers on older units may not make financial sense given today’s fundamentals.
By Dimitris Kourtesis
Tanker Chartering 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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
|
|
|
Showing 1741 to 1745 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
|
| |
| |
|
