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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, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
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