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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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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
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Showing 1731 to 1735 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
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