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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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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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Showing 1751 to 1755 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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