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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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Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
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- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
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- Thai Mozambique Logistica
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
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- Trasteel International SA, Italy
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- The University of Queensland
- Cement Manufacturers Association - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
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- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
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- Sojitz Corporation - Japan
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- Gujarat Electricity Regulatory Commission - India
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- Latin American Coal - Colombia
- VISA Power Limited - India
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- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
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- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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- New Zealand Coal & Carbon
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- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
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- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
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- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
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- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Australian Coal Association
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
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- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
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