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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
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