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Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
 Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be capped to 0.5% by IMO convention, ruling out current standard grades of HFO. Both fuel consumers in the shipping industry and producers in the refining industry have now had a little time to consider the potential options to deal with the imminent regulatory change…
SOx Appeal
Nearly a year on from the confirmation that the IMO would proceed with the 2020 global sulphur cap, there is still little certainty as to how shipping market players will react. There are options: either the demand side reacts, and owners fit SOx scrubbers, or investigate alternative fuels, or the supply side (i.e. the refining industry) finds a way to supply low sulphur compliant fuels.
So far, there appears limited take-up of scrubbers by owners (232 vessels recorded). Capex estimates for retrofits range from $1-8m, and until January 2020, such costs represent expenditure with no economic benefits outside ECAs. Similarly, potential LNG fuel retrofits may be complex, expensive and limit refuelling options. Only 369 ships are recorded as LNG fuel capable, 70% of which are LNG carriers; another 263 are on order.
Refining Marine Fuel Demand
Refining Marine Fuel Demand
Most bunkers (circa 80%) are heavy fuel oil. Roughly 5m bpd, or 45% of world fuel oil output, ends up as marine bunkers. In general, refineries are designed to produce as little fuel oil as possible, and may use cracking/coking units to achieve this. But much of what is produced ends up as bunkers: shipping consumes a lot of the least-valued fraction (for example, a 14,000 TEU containership, spending 70% of its time at sea at 18 knots, might burn more than 23,000t of HFO per annum).
The choice for ECAs has been gasoil (MGO) to achieve 0.1% sulphur, and 5% of gas oil production ends up as bunkers. However, gas oil, kerosene and gasoline are priced higher because they have uses as land/air transportation fuels. It is unlikely that come 2020, there would be sufficient volumes available of gasoil to fuel the global shipping industry. At a time of weak prices, oil companies are cutting both up and downstream capex, and appear to have little incentive to build new infrastructure to desulphurise fuel oil. Even if new refinery investment was made, refiners would be likely to prioritise additional gasoline production.
Distilling The Issue Down
So, it seems unlikely that there will suddenly be large amounts of new 0.1% LSFO produced by refineries, nor enough distillates available for ships to run on MGO. Diverting additional gasoil to shipping would imply the payment of similar prices as onshore uses. Hence, the most likely outcome is that low sulphur compliant fuels will be achieved by blending a partial amount of gas oil into HFO, to reduce it below 0.5% sulphur content.
So, it is still not fully clear what the state of play will be in 2020. For both bunker suppliers and owners, investment with over two years to go may be hard to justify, but an unprepared industry in 2020 might be exposed to price spikes. It may well be that a mixture of solutions initially prevails, at least until a consensus emerges over the most economic solution. Have a nice day.
Source: Clarksons
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Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
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