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.
|
|
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
|
|
|
Showing 1766 to 1770 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
|
| |
| |
|
