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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, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
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- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
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