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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, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Parliament of New Zealand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- The University of Queensland
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
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