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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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Showing 1461 to 1465 news of total 6871 |
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- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- The University of Queensland
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
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