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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, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
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- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
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