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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
 IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
Press Release: The vast majority of ships in the German fleet will run on the new sulphur-reduced fuel (Low Sulphur Fuel Oil, LSFO) from 1 January at the latest. This is one of the findings of a survey conducted by the German Shipowners’ Association (Verband Deutscher Reeder, VDR) among its member companies. While the body of data obtained through the survey is not representative of the German shipping industry as a whole, it does reflect views that can certainly be extrapolated since the respondents include shipping companies from every sector of the German shipping industry.
The survey was conducted against the backdrop of one of the biggest changes occurring in the shipping sector, a change that will take effect just over a month from now: following a decision by the International Maritime Organisation (IMO), a subsidiary organisation of the United Nations, ships around the world may only use fuel with a sulphur content of no more than 0.5 per cent. The standard currently in force sets the maximum limit for the sulphur content in maritime fuels at 3.5 per cent.
There are essentially three options available to shipping companies during the changeover. According to the survey, 81 per cent of the companies surveyed will be using LSFO with a sulphur content of 0.5% in the future. Eleven per cent will continue to use Heavy Fuel Oil (HFO). This is expressly permitted under the IMO rules, provided that exhaust gas purification systems, so-called scrubbers, are installed on the ships. Six per cent of respondents indicated that they will be using other fuels, such as those prescribed already since 2015 for Emission Control Areas in the North Sea and the Baltic Sea – fuels with an even lower sulphur content of 0.1 per cent. Two per cent of the ships in the German fleet will already be operated using LNG after 2020, according to the survey. “Germany’s maritime industry has carefully prepared for this enormous change. It ushers in a new era in maritime shipping, signalling the end of heavy fuel oil. We support this change and are implementing it – and in doing so, we are making an impressive contribution to long-term environmental protection,” said Ralf Nagel, CEO of the VDR.
The greatest challenge looming as part of the changeover according to the companies surveyed will be technical problems encountered during operations in the future, as well as the cost of the new fuel, and the issue of cost compensation by third parties, in particular customers. German shipping companies are also concerned about the question of availability. “There are many who fear that the new fuels could cause technical problems during operation – problems that could also have financial consequences,” said Nagel: “We therefore call on all stakeholders to be as committed and flexible as possible in preparing for the changeover, to ensure that it will become a success story.”
According to the survey, the one-off investment expenditure for companies in the lead-up to the changeover averaged € 7.5 million per shipping company. Ralf Nagel: “Considering that more than two thirds of the shipping companies in Germany are medium-sized and operate fewer than ten ships, we realise just how great the financial effort was that the individual companies had to make in preparing for the changeover.”
Moreover, the additional annual costs now facing companies would make IMO2020 probably the most elaborate regulatory measure ever implemented by the shipping industry. “Companies are particularly concerned about the fact that they will have to bear considerable additional costs in their ongoing operations in the future, and that possible compensation for these added costs by third parties, in particular customers, may not work as envisaged.”
“Of enormous importance for us is the fact that this is a worldwide regulation, one that everybody is compelled to implement. This demonstrates that the IMO is a body that is capable of taking effective action to regulate shipping worldwide. The IMO should therefore play the key role when it comes to climate protection as well. In contrast, separate regional solutions, for example in the EU, should be avoided. Their effect would be to distort competition, and ultimately they would not have a sustainable impact on the climate,” said Ralf Nagel.
With regard to the new sulphur regulation, the VDR called for effective controls by the respective port states. Nagel: “We will be relying on worldwide controls to monitor the implementation of the new regulation, so that no one can gain a prohibited competitive advantage At the same time, however, we are confident that the flag states and also the customers of the shipping companies have a great interest in ensuring that the new rules are actually complied with.”
About the German Shipowners‘ Association
The German Shipowners' Association (Verband Deutscher Reeder, VDR) is responsible for representing the common business and social policy interests of German shipping companies at federal and state government level as well as in relation to European and international bodies. The VDR was established in 1907, and in 1994 it merged with the Association of German Coastal Shipowners. With a membership of around 200, the VDR represents the majority of Germany’s merchant fleet. Further particulars are available at www.reederverband.de/en.html.
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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
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