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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, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 14 December 15
CFR SOUTH CHINA COAL SWAP IS STILL SLIDING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 0.93(2.18%) per ton month over month.
A commodity swap ...
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- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- The University of Queensland
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
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