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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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Friday, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
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- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- The University of Queensland
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- VISA Power Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
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