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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, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT 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 increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Australian Coal Association
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
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