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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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Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
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- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
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