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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, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- The University of Queensland
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
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