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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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Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
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- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- PTC India Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
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