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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 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
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Showing 2216 to 2220 news of total 6871 |
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- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- GMR Energy Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
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