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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, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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- India Bulls Power Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
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