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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, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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Showing 1676 to 1680 news of total 6871 |
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- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Australian Coal Association
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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