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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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- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
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- Latin American Coal - Colombia
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- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- White Energy Company Limited
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
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