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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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Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
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Showing 1451 to 1455 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Aditya Birla Group - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
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