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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, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
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