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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, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
Monday, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
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Showing 1986 to 1990 news of total 6871 |
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- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
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