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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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Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Planning Commission, India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
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