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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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Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
Thursday, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
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Showing 1971 to 1975 news of total 6871 |
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- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
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