Wednesday, December 23, 2009

Shipping must Wait for IMO MEPC for direction on Emissions and Bunker Fuel issues

At Copenhagen there was an absence of proposals bringing shipping emissions under a national responsibility and to provide either a national or international framework to limit growing emissions from international shipping . The consumption picture continues to be confused for shipping- both international as well as coastal operations. Bunker consumption is typically estimated from as the size of the world fleet. Figures based on the theoretical requirement of the world fleet are generally thought to overestimate consumption due to quotations for only full speed and are generally higher than those based on suppliers' estimates of their market share –logically- published sales figures could refine estimates of total Bunker fuels usage between the supposed range 300-400 Million tonnes annually.
One outcome of the UN climate talks was the Copenhagen Accord, which makes no mention of the shipping and highlights the failure to discuss specifics of bunker fuels sectors in the conference itself. The working group charged with drafting an agreement on bunker fuels, co-chaired by Norway and Singapore, could not agree a draft text to forward to the main body, the Council of the Parties (COP) to the UN climate convention, for consideration.

DNV had published research that claims ships could reduce CO2 emissions by 500 million metric tons by 2030 while increasing profits - certain owners have taken some action – on 21st December VIKING LADY A Norwegian supply vessel powered by a 320-kilowatt molten carbonate fuel cell that operates on liquefied natural gas berthed in Copenhagen-showing what can be done.
Perhaps shipping must await The IMO’s Marine Environment Protection Committee next meets in March to review it’s work plan on shipping emissions – and illuminate a way forward in the absence of answers for the basic questions:
Targets for emissions reductions for shipping – equality of treatment for all ships – Levies on Fuel or Market methods to regulate control – Role of UNFCCC / IMO

Tuesday, December 22, 2009


Sale and Purchase Market Report for the Week Ending 18.12.2009

Another fairly active week for secondhand vessels, with bulkers dominating
activity. Chinese buyers remain behind many of the purchases.

With shipyards becoming more realistic in their pricing, there continues to
a small amount of newbuilding discussions and contracts.

The Indian and Chinese markets are currently dominating demolition activity
with a distinct improvement in prices from these areas, meaning that
and Pakistan are finding it difficult to compete. Prices have improved on
back of increasing steel prices and favourable currency movements while in
China yards are attempting to fill their quotas before the end of the year.
Current prices are not expected to last into the New Year.

Name Type Dwt Blt Price Buyer
Chs Star Cape 150,149 91 USD 17.50 M China
Theresa Hebei Pmax 76,300 04 USD 35.00 M Undisclosed
Ernst Salamon Pmax 73,000 99 USD 26.00 M Undisclosed
Juno Island Pmax 72,080 97 USD 24.00 M Greece
Pierre Pmax 70,316 96 USD 22.50 M China
Haina Wealth Pmax 68,772 89 USD 12.00 M China
Kritika Naree Hndy 34,072 82 USD 4.35 M Malaysia
Clipper Lake Hndy 28,000 01 USD 19.00 M Undisclosed
Maritime Master Hndy 26,320 84 USD 3.60 M Undisclosed

Lions Gate Bridge 5500teu 69,000 01 USD 21.00 M Undisclosed
Saronikos Bridge 2670teu 44,044 90 USD 11.40 M Undisclosed en bloc
Msc Seine 2932teu 43,940 90 USD '' '' ''
Zrin 2275teu 35,100 93 USD 5.00 M Germany

The Iris Roro 1,265 82 - Finland
Autoline Roro 1,550 83 - Syria (conversion)
Autotransporter Roro 1,566 83 - '' ''

Hamal Star Vlcc 301,550 94 USD 20.00 M Korea (conversion)
Concord Vlcc 276,052 88 USD 16.00 M Undisclosed(storage)

Fgm Achiever Bulk 7242/LDT 78 USD 355.00/ton Bangladesh (further-
trading option)
Samos Sky Bulk 10000/LDT 81 USD 310.00/ton China
Gemini Bulk 5405/LDT - USD 290.00/ton Pakistan
Msc Federica Cont 12181/LDT 74 USD 330.00/ton India
Msc Serena Cont 77 USD 323.00/ton India
Harriette N Gas 15272/LDT 80 USD 342.00/ton Bangladesh,
Orion Tank 1600/LDT 82 USD 459.00/ton India (incl 190t
Galaxy Tank 6042/LDT 85 USD 360.00/ton India
Ocean Grace Tank 10300/LDT 85 USD 367.00/ton India
Esraa Tank 6076/LDT 82 - Pakistan