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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, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
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- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
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