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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, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
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Showing 1481 to 1485 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Australian Coal Association
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
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