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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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Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
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- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
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