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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, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
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