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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, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- White Energy Company Limited
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
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