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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, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
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