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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, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
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