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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, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
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