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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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- ASAPP Information Group - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
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