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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, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Deloitte Consulting - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Planning Commission, India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
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