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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, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
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