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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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Tuesday, 01 September 15
FOB RICHARDS BAY COAL SWAPS STILL SLIDING; Q2'16 DELIVERY LOST AROUND 6 PERCENT M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 gain week over week but declined month over month.
The 4Q swap was dow ...
Monday, 31 August 15
API 5 FOB NEWCASTLE COAL SWAP GAINS WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.85 per MT (-4.23%) month over month to US$ 41.87 per mt. The swap ...
Monday, 31 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP ENDS DOWN MORE THAN 4 PERCENT MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.91 (3.78%) per MT month over month.
A commodity ...
Sunday, 30 August 15
THE DRY BULK MARKET UNDOUBTEDLY REMAINS WEAK & VOLATILE THIS WEEK
COALspot.com: The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. Wh ...
Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
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- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
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