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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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Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
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- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
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