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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
 A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up to $370 million a year, marking another blow for maritime companies already hit by fallout from the coronavirus.
The Panama Canal, one of world’s busiest shipping routes, which handled nearly 14,000 transits last year, said last month it would introduce a charge from Feb. 15 of $10,000 for any vessel more than 125 feet long.
The canal, which relies on water from nearby Gatun Lake, has been hit by drought which affects water levels in the chokepoint. The Panama Canal authority also said it would bring in a variable surcharge based on the level of Gatun Lake to ensure the canal has enough water.
The authority said the charges were a consequence of a lack of rainfall and said this was a short-term measure needed to tackle the impact of climate change.
The International Chamber of Shipping (ICS), which represents more than 80% of the global merchant fleet, said on Thursday it was surprised by the charge after working with the canal authority on a separate increase in tolls which is due to come into effect in April.
“The industry is currently facing increased price pressures globally, as demand has been hit hard by the coronavirus and markets are adjusting to the new regulations on sulphur levels,” ICS secretary general Guy Platten said, referring to new rules requiring ships to use cleaner fuel.
The coronavirus epidemic has upended supply chains and already disrupted shipping across the world leading to commercial losses for certain types of shipping, including container lines.
The industry is also having to pay billions of dollars in extra fuel costs due to the tough new sulphur emissions rules that started in January.
Platten said the global shipping sector was already operating “on the slimmest of margins”.
“ICS calculates that at current water levels the ‘freshwater charge’ alone could cost global shipping $230 million. In a worst case scenario this could be as high as $370 million per year,” he said.
“Cost hikes in this range, without sufficient warning, places undue pressure on the industry at a sensitive time when we are being asked to invest in a low emissions future,” Platten said. He urged the canal authority “to rethink the hasty introduction”.
Canal officials were not immediately available for comment.
A study last month estimated at least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050.
Source: Reuters (Additional reporting by Elida Moreno in Panama City and Diego Ore in Mexico City. Editing by Jane Merriman)
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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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