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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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Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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Showing 1726 to 1730 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- The University of Queensland
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
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