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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, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
Tuesday, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
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- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
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