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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, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
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- GMR Energy Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
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