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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, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
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