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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
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