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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, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
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- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- White Energy Company Limited
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- The University of Queensland
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
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