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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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Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
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- Barasentosa Lestari - Indonesia
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- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
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- Ambuja Cements Ltd - India
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- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
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- Indian Energy Exchange, India
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- Sinarmas Energy and Mining - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- AsiaOL BioFuels Corp., Philippines
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- Romanian Commodities Exchange
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- IEA Clean Coal Centre - UK
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- Billiton Holdings Pty Ltd - Australia
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- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
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- Banpu Public Company Limited - Thailand
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- Merrill Lynch Commodities Europe
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- Power Finance Corporation Ltd., India
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- Krishnapatnam Port Company Ltd. - India
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- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
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- PetroVietnam Power Coal Import and Supply Company
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- Jorong Barutama Greston.PT - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
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- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- The Treasury - Australian Government
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- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
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- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
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- Iligan Light & Power Inc, Philippines
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- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
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