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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
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