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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, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
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Showing 2311 to 2315 news of total 6871 |
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- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- VISA Power Limited - India
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