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Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact for many in the industry. Shipowners will need to make tough decisions on how their vessels will comply with the new limit, charterers who buy fuel will need to know how it will economically affect them and seafarers will have the ultimate challenge of ensuring vessels continue to run safely and efficiently.
There are several options on how to comply with the sulphur cap. As well as the various fuel choices on offer, there are abatement technologies such as scrubbers EGCS (Exhaust Gas Cleaning Systems). A shipowner’s choice will depend on a number of factors and influencing the decision will be the inevitable gamble on what the availability and price of fuel will be post-2020. What will be certain is that there will be economic and commercial impacts.
Of course even shipowners in the offshore and deep sea oceangoing towage markets will also face similar concerns. Despite the fact that a large portion of the market was already burning distillates, the oceangoing long distance range tugs will face some very difficult economics and important decisions to make on how to comply with these stringent requirements. First class operators are also in certain cases not keen that the VLSMGO fuels are compatible and safe to use in particular tug engines. In general, there are several options available to a shipowner that will allow compliance with the 2020 global sulphur cap. There are pros and cons with each, as discussed extensively during 2019. Mostly concerning fuel availability, on-board fuel management, capital and operational expenditure as well as maintenance requirements. It is not a simple choice and the decision on what method of compliance is best depends on a number of factors, such as vessel type, trading area and remaining service life. The proportion of time spent within emission control areas (ECA) should be also considered together with the impact of changing over fuels when entering/leaving these areas. The 0.1% sulphur cap currently in operation within the ECAs will remain in force and it is possible that new ECAs may emerge in the coming years. For some vessels in particular, the best solution might be multi-fuel, such as having the ability to burn LNG or distillates, depending on the availability of each.
A number of producers have developed or are developing compliant products which are heavier than MGO and MDO but lighter than the residual fuel oils that are currently used. Some are specially-produced products and are commonly referred to as ‘hybrid’ fuels. Other products are the result of blending, producing a heavy distillate or light residual blend. It may be possible that a 0.5%S residual fuel (e.g. 380cst) could be produced from either refining sweet crudes or from sour crudes undergoing a desulphurization process. But there are currently no plans to make this widely available as a marine fuel.
In any case it is clear that the new landscape will take shape and form during the entire first semester of 2019. The first quarter of 2020 will indicate the new trends and the new overall status in the market, but I believe it will take at least 6 months or more till we get to understand the real new dynamics and status of options.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
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