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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, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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Showing 1841 to 1845 news of total 6871 |
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- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Planning Commission, India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
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