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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, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
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Showing 2001 to 2005 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
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