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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, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
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