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Thursday, 24 December 15
GLOBAL MARINE FUEL REGULATIONS COULD SHOCK REFINING AND OIL MARKETS - OPEC | HELLENIC SHIPPING NEWS
 IMO regulations call for global standards for sulphur content in marine fuel to be tightened to 0.5% from its present 3.5%. There is uncertainty over this regulation, however, because there is the possibility that the implementation date could be dropped back from 2020 to 2025, and because it allows for the use of on-board exhaust gas scrubbers with high sulphur fuel as an alternative compliance mechanism. The uncertainty of the timing is a deterrent to both shippers and refiners to invest in facilities, either to scrub fuel or to convert high sulphur supplies to low sulphur. Also, as of today, on-board scrubbers remain at the testing stage and there are doubts over whether, and when, they will prove successful and be adopted en masse.
With scrubber penetration in 2020 now considered by many observers as likely to be low, the volume of high sulphur and mainly heavy marine fuel that would need to be converted to 0.5% sulphur marine distillate or other formulations could lie in the range of 2 mb/d to more than 3 mb/d. This requirement would be on top of the incremental volume and quality demands relating to diesel/gasoil, jet fuel/kerosene and other fuels.
The IMO intends to issue a recommendation on timing of implementation – whether 2020 or 2025 – by late 2016. However, if the date remains at 2020, this will leave only limited time for refiners to make what could ultimately be substantial investments and/or for scrubbers to be retro-fitted to thousands of ships. A risk is emerging that the implementation of the rule could lead to a period of strained refining markets with substantial price premiums versus crude oil for low sulphur distillate and residual fuels and severe discounts for high sulphur fuels. The impacts would not be limited to marine fuels, but would spread across all sectors and world regions. Complex refineries, especially those oriented to distillates, would potentially benefit but simpler refineries, especially those processing higher sulphur crude oils, would be adversely impacted, with possible implications for closures.
Long-term capacity requirements are ‘frontloaded’; the pace of needed refinery capacity additions inexorably slows Although the pace of refinery projects has slowed in the aftermath of the recent crude oil price drop, the 8.3 mb/d of projected total additions by 2020 (which comprise 7.1 mb/d of firm assessed projects plus model-based ‘creep’ and limited additions beyond projects) still represent over 40% of the 20 mb/d cumulative total additions projected as needed by 2040. They are also 35% higher than the total demand growth in the period from 2014–2020, an excess that increases once NGLs and other non-crude supply additions are taken into account. Moreover, rational capacity additions post-2020 are expected to be no more than half the 1.4 mb/d p.a. expected between now and 2020, and less than one-third in the last five years of the forecast period.
Source: OPEC | Hellenic Shipping News
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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
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- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
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