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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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Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
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 ...
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- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- The University of Queensland
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- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
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