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Coal Transportation News

09 Feb 2023

Australian Coal Arrives in China for First Time in More Than Two Years

At least two vessels carrying Australian coal have arrived in China for the first time since an unofficial ban on imports was introduced more than two years ago, and several more are on the way, shiptracking data showed. The cargoes are being closely monitored by coal traders as they are keen to see how smooth Chinese customs procedures will be.China last month, in a partial easing of the import ban, granted permission to just four central-government owned firms to bring in Australian coal. Tiger East, a dry bulk vessel loading some 73,300 tonnes of Australian thermal coal from Queensland, is discharging at the southern Chinese city of Taishan…

16 Dec 2021

Offshore Wind to Require Ocean Space the Size of Italy by 2050

Remi Eriksen, Group President and CEO of DNV

By mid-century, offshore wind will require ocean space which is equivalent to the landmass of Italy, and the industry will by then account for half of all the capex in the Blue Economy, according to DNV’s Ocean’s Future to 2050 report."The exponential growth of offshore wind power will be the main driver of a nine-fold increase in demand for ocean space by the middle of the century," DNV said.The growth will be particularly pronounced in regions with long coastlines and presently have low penetration of offshore wind.

12 Nov 2021

Shooting the Messenger? Shipping Carries the Can as Investors Shun Coal

Coal Carrier - Credit:arikbintang/AdobeStock

Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel.In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the dry bulk industry told Reuters they were either reducing their exposure to vessels that…

05 May 2020

Kirby Reports Q1 Loss, Withdraws 2020 Guidance

(File photo: Kirby Corp)

America's largest tank barge operator Kirby Corporation on Tuesday announced a net loss of $248.5 million for the first quarter, down from $44.3 million earnings for the same period last year. The company also withdrew its full year earnings guidance.The sharp deceline in energy prices and oil and gas activity negatively impacted the revenue and operating income of Kirby's distribution and services segment, leading the Houston-based company to implement workforce reductions, furloughs and reduced work schedules…

06 Nov 2019

Newbuild Contract for 210,000 DWT Bulker

File Image: A typical "K" Line coal carrier (CREDIT: "K" Line

Kawasaki Kisen Kaisha, Ltd. has announced that construction contract for 210,000-dwt Bulk Carrier to be completed in 2021 fiscal year has been made with Japan Marine United Corporation.After delivery from the yard, the vessel will be put into a consecutive voyage as per contract signed with JFE Steel and will be engaged in iron ore and coal transportation.The main features of this vessel will comply with NOx emission regulations (Tier III) and be  equipped with SOx scrubber that…

03 Nov 2019

Oldendorff in Bulker Deal with Bangladesh

German bulk carrier company Oldendorff Carriers  signed a Coal Transportation Agreement (CTA) with  Bangladesh Chinese Power Company limited(BCPCL).Oldendorff will provide a full transportation solution to BCPCL, which includes coal transportation from Indonesia or Australia with transshipment in Andaman & Nicobar to Payra power plant in Bangladesh.The coal transshipment will allow BCPCL to take advantage of lower freight costs using larger vessels to Andaman & Nicobar, and smaller vessels will deliver the cargo to BCPCL, due to draft restrictions at Payra port.Weather restrictions for transshipment in the Gulf of Bengal, due to northeast and southwest monsoons, make transshipment impossible for at least four months of the year.

31 Jan 2019

Kirby Announces 2018 Q4/FY18 Results, Deal to Buy Cenac's Marine Fleet

Kirby Corporation announced a net loss attributable to Kirby for the fourth quarter ended December 31, 2018 of ($24.4) million, or ($0.41) per share, compared with earnings of $231.3 million, or $3.87 per share, for the 2017 fourth quarter. Excluding certain one-time charges, 2018 fourth quarter net earnings attributable to Kirby were $44.9 million, or $0.75 per share. Consolidated revenues for the 2018 fourth quarter were $721.5 million compared with $708.1 million reported for the 2017 fourth quarter.For the 2018 full year…

02 Jun 2017

LNG-fueled Newcastlemax Bulk Carrier Design Unveiled

Project partners BHP, Fortescue, Mitsui O.S.K. Lines (MOL), Rio Tinto, SDARI, U-Ming, Woodside, and DNV GL presented the results from stage one of their “Green Corridor” joint industry project (JIP), which demonstrated the commercial potential and technical feasibility of bulkers fueled by liquefied natural gas (LNG) in the iron ore and coal trade between Australia and China. The result is an LNG-fueled Newcastlemax design which is in the process of receiving Approval in Principle (AiP) from DNV GL. The idea of developing LNG-fueling infrastructure for the vessels operating on the Australia–China iron ore and coal trade route has been contemplated by major charterers, ship owners and operators for many years.

14 Feb 2017

Tangshan Port Shares Soar on Coal Clampdown Rumors

Shares of Tangshan Port Group Co Ltd soared 7 percent on Tuesday, to post their biggest daily percentage gain in nine months, as investors bet the small port would benefit from a major clampdown on coal transportation at its larger rival. Shares in the Hebei-based company trading on Shanghai stock exchange jumped to 4.6 yuan ($0.67), their highest since Nov. 15, on Tuesday before ending the session at 4.52 yuan. Trading volume was also higher than usual with 121 million shares, the highest in a year. The stock posted its biggest daily percentage gain since May 13 last year. The buying spree came after Reuters reported on Monday that China's Ministry of Environment is considering stopping Tangshan's neighbouring rival Tianjin Port Co Ltd…

27 Mar 2015

MOL’s Coal Carrier for Tokyo Electric Power

Mitsui O.S.K. Lines, Ltd. today announced that the coal carrier Hakutaka, which will serve Tokyo Electric Power Company, Inc. was delivered at Mizushima Shipyard of Sanoyas Shipbuilding Corporation on March 26, 2015. The vessel jointly developed by Sanoyas Shipyard and MOL, is a state-of-the-art coal carrier with its wide-beam/shallow-draft shape and various safety and energy-saving specifications. It is the 3rd vessel, coming after theAkatsuki, which was delivered in February 2014, and the Soma Maru, which was delivered in July 2014. TheHakutakawill play a central role in coal transportation for TEPCO thermal power plants under a new long-term consecutive voyage service contract.

18 Jul 2014

MOL Coal Carrier to Serve Tohoku Electric Power

Soma Maru (courtesy of MOL)

Mitsui O.S.K. Lines, Ltd. (MOL) today announced that the coal carrier Soma Maru, which will serve Tohoku Electric Power Co., Inc., was delivered at Mizushima Shipyard of Sanoyas Shipbuilding Corporation on July 17, 2014. The vessel, which was jointly developed by Sanoyas Shipyard and MOL, is a state-of-the-art coal carrier with its wide-beam/shallow-draft shape and various safety and energy-saving specifications. It is a sister vessel to the Akatsuki, which was delivered in February of this year.

05 Feb 2008

COSCO Diverts Ships for Domestic Use

COSCO Holdings Co has reportedly diverted ships for domestic coal transportation, according to a Reuters report. COSCO Holdings said on its website that it had shifted the vessels from its international fleet, and was using 34 vessels to transport coal along China's coast. They had shipped about 3 million tons of coal from the northern producing areas to the south.

10 Apr 2001

Moody's Downgrades ACL

Moody's Investors Service downgraded the ratings of American Commercial Lines LLC's $535 million senior secured bank facility to B1 from Ba2 and the $300 million 10.25% senior unsecured notes to B3 from B1. The Senior Implied rating was lowered to B2 from Ba3 and the issuer rating was lowered to Caa1 from B2. The rating outlook was changed to stable from negative. The ratings downgrades is prompted by the substantial deterioration in operating performance resulting from a reduction in grain exports to Asia, higher fuel costs, and low water levels and unusual ice conditions on its U.S. transport routes which severely impacted the fourth quarter of 2000.