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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 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
Monday, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
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Showing 1426 to 1430 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
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