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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, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
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