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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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Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
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- Planning Commission, India
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- Eastern Energy - Thailand
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- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
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- The State Trading Corporation of India Ltd
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- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
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- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
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- Thai Mozambique Logistica
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
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