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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, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
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- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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