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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, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- White Energy Company Limited
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
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