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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, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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Showing 1721 to 1725 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
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