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Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritime Organization's (IMO) 0.5 wt% sulphur cap for bunker fuels kicks in.
Fuel oil, which is high in sulphur content, has traditionally been used by the shipping industry as bunker fuel. In 2017, global demand for high-sulphur fuel oil stood at over 70% of overall bunker fuels.
With the implementation of the IMO regulation in 2020, shippers will have to consider a switch to alternative fuels, such as Ultra Low Sulphur Fuel Oil (ULSFO) or marine gas oil (MGO), or install scrubbers, a system that removes sulphur from exhaust gas emitted by bunkers.
Installing scrubbers may be an economically attractive option. Although there is an initial investment, shippers can expect a rate of return of between 20% and 50% depending on investment cost, MGO-fuel oil spread and ships' fuel consumption. However, the penetration rate for scrubbers could be limited by a number of factors, including access to finance, scrubber manufacturing capacity and dry-dock space.
Demand from the bunker fuels market will total about 5.3 million b/d in 2020, according to Wood Mackenzie forecasts.
Based on pure ULSFO refinery streams, available ULSFO volumes in 2020 will total about 1.2 million b/d. This could be boosted by further blending ULSFO with vacuum gas oil (VGO) streams, but VGO is a valuable feedstock for the production of other lighter refinery products, and may not be readily available.
It is likely that MGO will help meet additional demand from the shipping sector. Wood Mackenzie estimates that this will see MGO demand rise by over 1 million b/d in 2020 in our base case outlook. Meeting this demand will require higher crude runs with residue upgrading units, particularly in the US and China, supporting an uplift in refining margins.
It also provides refiners, particularly in the US and China, the opportunity to capture the value of their ULSFO component streams and increase their share of the global bunker market.
Some refiners should see better profit margins as incremental demand for MGO rises, pushing up its price. Higher refining runs, required to meet additional MGO demand, could potentially push global gasoline market into surplus weakening gasoline prices. This could mean that the gasoline pain for some refiners could be more acute than the impact of weaker HSFO prices. Overall, we expect a material impact on refining economics post IMO and refiners must ensure they have a robust IMO strategy in place.
We also expect a shift in bunkering locations based on compliant fuels availability. Singapore, for example, could potentially lose some of its market share for bunker fuels to China as shippers look for alternative locations with a surplus of compliant fuels. China, with ample MGO supply, is well positioned to attract shippers.
New greenfield upgrading investments from refiners are unlikely to be purely driven by IMO regulation, and there is a need to look at longer-term rationale and strategic fit of these projects. Structural shifts in the fuel oil and gasoil markets may result in better economics, but that needs to be re-evaluated. For refiners choosing not to invest, the focus should be on infrastructure to capture the opportunity from their existing configuration and internal streams.
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- PTC India Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
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