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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- CNBM International Corporation - China
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