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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, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
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- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
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