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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, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
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