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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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Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
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- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
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