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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, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
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