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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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Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
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