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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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Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
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- Minerals Council of Australia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- MS Steel International - UAE
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
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