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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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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
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