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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, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
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Showing 1771 to 1775 news of total 6871 |
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- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
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