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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, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
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Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
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- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
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