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IUMI believes that the current system of leaving the testing or damage to the end user is outdated.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