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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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Wednesday, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Australian Coal Association
- Mjunction Services Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Planning Commission, India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
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