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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
 At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality and safety were high on the agenda. Poor fuel quality is a problem which affects many stakeholders in the supply chain.
The contamination incident which occurred in the United States Gulf ports in the summer highlighted that biofuels are not properly catered for under the International Organization for Standardization (ISO) standard 8217. They fall, at best, under the stipulation that fuels should be fit for purpose. Numbers vary, but at least 100 ships were affected by their supplied biodiesel fuel which contained added substances, namely fatty acid methyl esters or FAME. In many cases, this adversely affected the performance of the machinery.
Biofuel contamination shares a commonality with fuel containing too many deliberately introduced catalytic (“cat”) fines – in both cases, the fuel supplied is unfit for use. In the case of cat fines, the fuel is known in advance to be unusable as supplied, whereas with biofuels, deficiencies only manifest in use. If fuels are unfit, in contravention to the requirements of MARPOL Annex 6, the validity of marine insurance cover may be called into question where ships are rendered unseaworthy.
IUMI believes that the current system of leaving the testing or damage to the end user is outdated. This approach has become unacceptable and must be changed. The motor and aviation sectors are positive examples of how the supply system works more effectively. Governments have agreed to compel the use of certain grades of fuel for ships; they should now equally recognise it is time to oblige the refineries to do the testing – not the end user. Traditionally, refiners have argued this can be done but will be more expensive. That rather old defence should be balanced against the cost of filtration systems and scrubbers across the world fleet, the cost of engine repairs, the increased risk of a consequent collision and pollution and by no means least, the cost of delay in deliveries.
There are potential third-party safety risks as the new blends of fuels have variable properties which are not standardised; they have different viscosity, flash points and pour points, meaning not only is performance unpredictable, they cannot be safely mixed with other new blends of fuels. The inevitable result will be more claims as a result of combustion problems.
If no remedial action is taken, there will be continued and growing expense, anticipated to be worse than the wave of cat fines claims after the SOx regulations of 2005. There could also be ensuing disruption to financial and social stability in a globally connected trade system where any delay has potentially significant consequences. As insurance will not automatically pay for the resultant damage, the cost will inevitably be passed via the owners and charterers to the voting consumer. IUMI would hope that IMO will encourage ISO to embark on the urgent amendment of the ISO 8217 legislation to deal with biofuels and indeed the 2020 sulphur cap.
Source: International Union of Marine Insurance
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Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- The University of Queensland
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
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