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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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Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
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, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
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- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
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