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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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Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
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