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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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Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
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- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- The University of Queensland
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
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