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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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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- The University of Queensland
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
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