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Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
 A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of scrubbers and the benefits of alternative fuel usage. Aside from all of these, there is another reading to this new regulation. New oil products (ultra-low sulphur fuel oil) as well as the much larger quantities of MGO that will be needed from the shipping industry will reshape trade patterns around the globe. The first effect could well be depicted in crude oil trade due to shifts in refinery utilization, said Yiannis Vamvakas, Research Analyst of Allied Shipping in Allied latest weekly research report.
Specifically, demand for light sweet crude oil will move upward as it will be required from the non-upgraded refineries, while it is possible to see a negative trend in the demand for heavy sour grades. The second part is the need for redistribution of the low-sulphur fuels, in order to properly cover the global bunkering markets.
Yiannis Vamvakas further noted that, a side-effect to this could well be the requirement for floating storage for both clean (building of inventories), as well as dirty products (storage of the excess heavy fuel oil produced). Demand for HSFO is projected to recover in the long-term, as scrubber-equipped ships will continue using it. However, given that the IMO expects around 3,800 vessels to be fitted with scrubbers by 2020, it looks as though these vessels will remain a relatively small percentage of the global fleet. Many refineries have proceeded with their investment plans, adding capacity in order to produce more middle distillates, with the International Energy Agency (IEA) forecasting that an additional 7 million barrels per day will come into production by 2023.
However, Yiannis Vamvakas says, there are also several refineries that have not yet fully prepared for the IMO 2020 regulation, possible creating a shortfall of the required fuels in certain regions. All in all, the most modernized refineries with extensive vacuum resid processing capacity will benefit most from the new regulation, as they will be able to produce larger quantities of required fuels, gaining market share in the marine sector. Based on these facts, demand will increase in regions were the more modern refineries reside, modifying current trade routes. According to a Reuters survey, around 66% of 33 questioned refineries will continue produce HSFO in 2020, but 70% of these stated that they will reduce their output. A decline has already been reported in fuel oil inventories, depicting the fact that refineries have started to cut output in anticipation of the regulation. However, it’s worth mentioning that if output cuts prove to be bigger than the consumption fall, prices will see a significant upsurge. With regards to different geographical locations, most of the US refineries have been upgraded by the US shale boom, giving them a head start, but they are still dependent on heavy fuel imports, which is used for blending purposes. This means that further investments will be required for adding de-sulphurisation capacity.
In Europe, the report says, the coastal refineries are better prepared compared to their mainland peers, as their main oil source is crude from North and West Africa, regions with less sour oil. In Middle East and China, most of the refineries do not have the capacity of de-sulphurisation needed to produce the new low-sulphur fuels, making new investments necessary. In almost all cases a significant change is to take place in the shipping industry.
This change can be seen as a threat, an opportunity or as a combination of these two. The modification of crude oil/oil products trade flows should benefit owners and refineries that are flexible and adaptable enough for the new regulations, while it may be a significant threat for market participants that will choose to fall behind their competition Yiannis Vamvakas concluded in his latest report.
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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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Showing 1391 to 1395 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- The University of Queensland
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
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