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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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Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
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