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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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Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
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- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
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