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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, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
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