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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, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
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- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
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