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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, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
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Showing 1876 to 1880 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- The University of Queensland
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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