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BTJ 5/2017 - Report: Bulk market

Publication date: 2017-10-31

Tags: highlights, report

BTJ 5/2017 - Report: Bulk market

After much deliberation and consultancy work, the International Maritime Organization has finally decided that the global cap on the sulphur level in ship fuel will be set at 0.5%. 

The new limit will come into force on January 1st, 2020, replacing the current 3.5%. 

Already, however, questions arise about the availability of compliant bunkers. 

This does not pertain only to refineriy output, but also to how fuel traders, bunkering companies, and terminals worldwide will cope with the new norm.

In a parallel action, China decided to implement the 0.5% cap in 11 major ports, including Shenzhen and Shanghai, effective January 1st of this year. It will be interesting to see if other countries in the Pacific Rim follow suit.

Ready for another big change?, by Charles L. Daly, Chairman, Channoil Consulting

The 5/2017 issue of Baltic Transport Journal in the Report section features also:

  • In the pipeline. Interview with Igor Wasilewski, President of the Management Board, PERN, by Przemysław Myszka

As a result of market dynamics, catalysed over the last couple of years by a sharp downtick in oil prices, the sourcing-transport-storage-refiing mix has changed. We're talking to Igor Wasilewski, the man in charge of the state-owned PERN, which not only manages Poland's crude oil and oil products pipeline network but also runs a number of fuel bases and Gdańsk's brand-new Oil Terminal, about the latest market trends, shifts in customers' focus, as well as the company's short- and long-term development plans.

  • Creative destruction. Adapting to the new normal in the oil and gas industry, by Katarzyna Chmielewska 

The oil and gas industry might be able to prove there’s truth to the saying that whatever doesn't kill you makes you stronger. It's now fuelled (pun intended) by creative destruction, where "new models and markets mutate and terminate the old," states the benchmark study Short-term agility, long-term resilience authored by DNV GL. The outlook for the oil and gas industry is less dire than several months ago but its confidence is still tied to oil price. Industry professionals, executives, and business leaders all agree that developing new business models is the way to move forward.

  • State of play in the bunker market. OW's bankruptcy still casting shadows as the market gears up for the 0.5% sulphur limit, by Unni Einemo, IMO Representative, and Media and Communications Manager, International Bunker Industry Association (IBIA)

The bunker industry is going through a rough patch. Everyone has been spooked by the collapse of companies that were "too big to fail," poor margins have undermined profitability for the past several years, and looming large on the horizon are uncertainties surrounding the transition to a global 0.5% sulphur limit in 2020. The latter may accelerate some of the changing dynamics we are already seeing.

  • Muddy waters. Liquefaction of cargo and Dynamic Separation, by Capt. Kevin Cribbin, Technical and Content Director, Vistrato

The International Maritime Organization (IMO) recently issued a warning that research presented by an industry work group found that a newly identified phenomenon in relation to the ocean transport of bauxite, when loaded on a ship under specific conditions, could result in a threat to the stability of the vessel.

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BTJ 5/2017 - Report

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