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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, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
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- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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