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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, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
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- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- PTC India Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
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