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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, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Planning Commission, India
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