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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
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