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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, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
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- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
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